Vietnam’s underdeveloped fabric production is making it difficult for textile and garment businesses to take advantage of free trade agreements, including the Europe – Vietnam Free Trade Agreement (EVFTA).

VOV.VN - Vietnam recorded a trade surplus totaling US$17.3 billion by mid-October, with import-export turnover during the first half of October reaching approximately US$25 billion, according to statistics released by the General Department of Vietnam Customs.

More and more Italian textile firms are investing in Vietnam to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA) and export to the European market, experts said.

Plans by the United States to ban Chinese cotton is unlikely to affect Vietnam’s garment and textile industry as a large portion of the materials the Southeast Asian nation imports come from the US.

The first eight months of 2020 have seen few foreign direct investment (FDI) projects in Vietnam's textile industry, a far less lively picture compared to the same period last year, the department of foreign investment under the Ministry of Planning and Investment has reported.

A shortage of raw materials remained an obstacle that needed to be removed if Vietnamese textiles and garment enterprises want to seize export opportunities in the European Union (EU) under the EU-Vietnam Free Trade Agreement (EVFTA), according to experts.

VOV.VN - The nation grossed billions of dollars from its export of telephones, textiles, footwear, and wood products to the United States during the first eight months of the year, according to figures released by the General Department of Vietnam Customs.

VOV.VN - Leading domestic and Thai businesses are displaying their products to local consumers at the four-day Top Thai Brands 2020 exhibition, which kicked off in Ho Chi Minh City on September 17.

VOV.VN - As a means of compensating for a drop in export orders due to the impact of the COVID-19 epidemic, several local textile and garment businesses are striving to seize upon opportunities brought about by the EU-Vietnam Free Trade Agreement (EVFTA).

The Vietnam Textile and Garment Group (Vinatex) forecasts the country’s textile and garment exports will continue to decline by 14-18% each month for the rest of 2020 over the same period last year.