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Related Keywords: Apparel Sourcing Paris, attending event to seek trade partners, domestic businesses, fifth largest market place in EU, French investors to investigate opportunities, held in Paris, leading European sourcing trade fair, Việtnam Textile and Garment Association, Vietnamese weave industry, Vitas, witnessed ten companies

The Apparel Sourcing Paris, a leading European sourcing trade fair which was held in Paris from September 18-21, witnessed ten companies from the Vietnam Textile and Garment Association (VITAS) attending the event to seek trade partners.

Related Keywords: available in India, country imports large volumes of feedstock, fabric and others, fit their needs., including yarn, India is one of the best alternative choices, Many raw materials, needs to diversify raw material import sources, Vietnam one of the five biggest exporters in the world, Việtnam Textile and Garment Association

Việtnam is one of the five biggest exporters in the world with exports of US$28.5 billion last year. But to achieve this, the country imports large volumes of feedstock including yarn, fabric and others, said Nguyễn Thị Tuyết Mai, deputy general secretary of Việtnam Textile and Garment Association (VITAS).
However, the Vietnamese textile and garment industry needs to diversify its raw material import sources if it wants to develop.

Related Keywords: Canaintex, fall to zero from current 30 percent, implementation of Trans-Pacific Partnership, Mexico National Chamber of Textile Industry, tariff on Vietnamese goods exported to Mexico, three to four years to Mexico, value of Vietnamese exports to double, Việtnam Textile and Garment Association, Vitas

The Vietnam Textile and Garment Association (VITAS) and Mexico’s National Chamber of Textile Industry (Canaintex) after the implementation of Trans-Pacific Partnership (TPP) expects the value of Vietnamese exports to double in 3-4 years to Mexico as tariff on Vietnamese goods exported to Mexico would fall to zero from the current 30 percent.

Canaintex representatives said that with TPP agreement coming into effect, Vietnam’s garment and textile exports will rise sharply and its market share in TPP member countries would increase substantially due to preferential tax policies.

Related Keywords: amend environment regulation, establishment of textile and garment industrial zones, export value exceeded, free trade agreements, related authorities, review and adjust development planning for the industry, stable growth, suggested Government, under current planning, Việtnam Textile and Garment Association, Vietnamese textile industry, Vitas

The Vietnamese textile industry’s export value under the current planning was targeted to reach US$20 billion by 2020, but the figure exceeded $27 billion in 2015 and is expected to hit $31 billion this year. From 2010 to 2015, the industry had stable growth of export value of 15 per cent per year.
In the first half of this year, its garment and textile exports have reached $12.6 billion, representing a 4.72 percent year-on-year increase and accounting for 41 percent of the sector’s target for 2016.