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Textile-garment export target of over 34 bln USD achievable: VITAS

With the bright outlook of both global and domestic economies, the textile-garment sector’s exports target of 34 – 34.5 billion USD for 2018 is achievable, Vice Chairman of the Vietnam Textile and Apparel Association (VITAS) Truong Van Cam said.
Textile-garment export target of over 34 bln USD achievable: VITAS ảnh 1The textile-garment sector targets 34 – 34.5 billion USD in export revenue in 2018 (Photo: VNA)

Hanoi (VNA) – With the bright outlook of bothglobal and domestic economies, the textile-garment sector’s exports target of34 – 34.5 billion USD for 2018 is achievable, Vice Chairman of the VietnamTextile and Apparel Association (VITAS) Truong Van Cam said.

At a meeting on April 17 to review the sector’sperformance in Q1, he said textile-garment firms received enough orders untilthe end of the second quarter of 2018, and some even had orders through thethird quarter.

Many companies said they have been working todiversify export markets. Apart from the key markets like the US, the EU, Japanand the Republic of Korea, they are also stepping up export to China, Russiaand Cambodia.

Cam said in the coming time, VITAS will pushahead with trade promotion programmes, specialised training, and experiencesharing. It will also encourage the application of smart production models tohelp businesses boost sustainable development.

He noted that Vietnam’s textile-garment sectorgained positive outcomes in Q1 amid the global economy forecast to post highergrowth rate in 2018 and the stable domestic economy.

Textile-garment exports in Q1 are estimated at7.62 billion USD, up 13.35 percent from the same period of 2017. Of thisfigure, 5.98 billion USD worth of apparel was shipped abroad, rising by 12.49percent year on year.

Exports to the key markets like the US, the EU,the Republic of Korea, China, ASEAN, and members of the Comprehensive andProgressive Trans-Pacific Partnership (CPTPP) enjoyed strong growth.

In 2017, the industry gained a year-on-yearincrease of 10.23 percent in export revenue to 31 billion USD, higher than itstarget set at the beginning of the year at 30 billion USD.-VNA
VNA
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