Optimistic signs seen in exports of garment-textile sector
Enjoying a rise in orders, the garment and textile sector is optimistic about the completion of its target of earning 44 billion USD in export revenue set for this year.
Along with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnamese garment and textile sector also needs a Vietnam-Canada free trade agreement or another bilateral deal to penetrate more deeply into the North American market, according to experts.
The tension in the Red Sea, which has led to increases in logistic costs and shipping time, is forecast to affect Vietnamese exporters of garment, textile, footwear and leather products from the second quarter of 2024 if it persists.
2023 was the most difficult year in more than three decades of exporting for the textile and garment industry, excluding 2020 when the whole world closed down due to the COVID-19 pandemic, according to Le Tien Truong, vice chairman of the board of directors of Vietnam National Textile and Garment Group.
