The Vietnam Textile and Apparel Society (VITAS) has sent a delegation of 14 member businesses to Chile and Argentina from August 10-19 to conduct market surveys.

The business executives have visited some apparel production, import and distribution businesses and attended a fashion fair named “Buenos Aires Moda” in Argentina.

They also held workshops with businesses from both Argentina and Chile, where they saw signs of good will to boost trade and investments.

Jorge Martinez Celaya, Deputy Head of the Bilateral Economic Negotiations Department under the Argentinean Ministry of Foreign Affairs and External Trade, said the two countries should increase the exchange of information and set up a business partnership to tap their great potential.

Representatives from Foreign Ministries and business circles from Chile and Argentina expressed the expectation of stronger cooperation in the garment industry as a result of the visit, thus increasing trade flows between Vietnam and their two countries.

Textile and garments are Vietnam’s second biggest hard currency earner in the recent past and likely to rise into the top position in 2009.

The sector makes up over 10 percent of Vietnam’s industrial output. In 2008, it earned 9.13 billion USD from exports, representing a 17.8 percent year-on-year increase and accounting for 15 percent of national export revenues.

The industry plans to double exports to 18 billion USD by 2015.

Vietnam’s textile and garment exports to Chile and Argentina reached some 13 million USD and 11.2 million USD, respectively in 2008.

In the first half of this year, the revenues were estimated at 5.5 million USD and 4.1 million USD, respectively./.