Garment exports hit US$7.44 billion

(VOV) -Garment and textile exports increased 17% to US$7.44 billion in the first five months of this year, according to the Ministry of Industry and Trade (MoIT).

MoIT Deputy Minister Do Thang Hai reported that from January to May 2014, domestic garment production experienced a decline due to disturbances in industrial zones in a number of provinces and cities.

garment exports hit us$7.44 billion hinh 0

He suggested local firms seize opportunities offered by the Trans-Pacific Partnership (TPP) agreement to take a proactive role in ensuring adequate supply of input materials and reducing import value.

In the wake of tensions in the East Sea, the Vietnam Textile and Apparel Association (VITAS) has asked businesses to seek other potential markets to avoid reliance on imported input from China.

Garment producers should keep a close watch on such promising market as Thailand, Indonesia, India, Malaysia, and the Republic of Korea, said VITAS.