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Related Keywords: benefit Vietnamese textile industry, control production costs, cotton price always fluctuates, cut transport, import cotton, many different sources, protection costs, set up a cotton bonded warehouse in Vietnam, urged US cotton manufacturers, US Cotton Association, Vietnam Textile and Apparel Association

The Vietnam Textile and Apparel Association (Vinatas) at the working session with the US Cotton Association urged the US cotton manufacturers to think about a plan to set up a cotton bonded warehouse in Vietnam, as it would benefit the Vietnamese textile industry by way of cut transport and protection costs.

US cotton has been favored by Vietnamese textile enterprises and used in a large scale.

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Vietnamese textile and garment industry are positive on achieving the industry’s export target set at USD$30 billion this year as many companies have received enough orders to stay busy for at least the first half of the year.

The Vietnam Textile and Apparel Association, vice chairman Pham Xuan Hong said that most of its member companies have a smooth start and some have already scored a large number of orders that can keep their factories running through the entire year. Even though it is less than two months in, he is confident that the annual goal is within reach.

Related Keywords: American Chamber of Commerce, generate export revenue, global integration to facilitate Vietnamese garment and textile products, TPP, Vienam-European Union Free Trade Agreement, Vietnam Textile and Apparel Association, Vietnam top ten garment and textile exporters in the world, Vitas

Vietnam has been among the top ten garment and textile exporters in the world for the last 10 years. Last year, it ranked fifth after China, Turkey, Bangladesh and India. According to the Vietnam Textile and Apparel Association (Vitas) in the first nine months of this year alone, garment and textile exports totalled $20 billion, an increase of 10 percent over the same period last year.

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The race is on for Vietnam’s clothing makers to find the right suppliers as its own textile mills only produce a fifth of the country’s needs today. With the Trans-Pacific Partnership (TPP) agreement being negotiated Vietnam is seeing a wave of investment from foreign textile and garment manufacturers keen to cash in on the tax benefits of the upcoming TPP.

The agreement being negotiated by 12 countries, including the US, promises major tax cuts for Vietnam’s garment exports, but only if they use fabric made locally or in other TPP countries, which excludes China.

Related Keywords: among other countries and territories worlwide, for Vietnamese garment and textile products, Free trade agreement, garment and textile generated largest turnover, TPP, US largest export market, Vietnam ran trade surplus, Vietnam Textile and Apparel Association

The U.S. has remained Vietnam’s largest export market among 200 countries and territories worldwide, a position it took over from the EU, which had held it since 2012, at the end of last year. According to official figures from the General Statistics Office (GSO), Vietnam earned $28.5 billion from shipments to the U.S. in 2014, up 19.6 percent compared with 2013.

Vietnam ran a US$17.2 billion trade surplus with the U.S. in the first eight months of this year, a 20.3 percent rise from $14.3 billion the country earned in the same period last year.

Related Keywords: declining order from Japan and EU, economic crisis in Greece, increase in the VND-USD exchange rate, lowest growth recorded, small orders coming, textile major exports of Vietnam, US market show positive signs, Vietnam Textile and Apparel Association, Vietnam textile exports, Vitas

Vietnam’s textile exports has reached $12 million, growth of 9 percent compared to the same period last year, this is the lowest growth recorded for the last three years, well down on 19 percent recorded for the same period of last year, according to Vietnam Textile & Apparel Association (VITAS).

Textiles are a major export of Vietnam which is targeted at $27 million to $27.5 million for this year. In 2014 textile exports had reached $24 million.

Related Keywords: central province of Quang Nam, fiber-weaving-dying and garment complex project, garment and textile sector, not face tariff, Onewoo garment manufacturing plant, Taiwanese apparel factory, textile-garment-dyeing factory, Trans-Pacific Partnership agreement, Vietnam Textile and Apparel Association, welcomes inflow of capital investment

An inflow of capital investment is welcomed by the central province of Quang Nam into the garment and textile sector. Vo Van Hung, head of the Investment Promotion and Enterprises Support Agency of Quang Nam Province, said that many domestic enterprise delegations and foreign firms coming from South Korea, China and Taiwan have visited the province to seek investment opportunities in the textile and garment industry.

Related Keywords: double size of production, Free trade agreement, largest economic sector, next textile and garment hotspot, textile export, TPP agreement, Vietnam Textile and Apparel Association, Vietnam textile and garment industry

Vietnam’s textile and garment industry is one of the largest economic sectors in the country, consisting 4,000 enterprises with a turnover of US$20 billion a year, accounting for 15% of. According to the Vietnam Textile and Apparel Association, textile and garment products are exported to 180 countries and territories in the world. In 2015, textile and garment industry is aiming at total exports of $28.5 billion.

The textile industry has been witnessing a steady growth over the recent years and pushing the country to become one of the top textile exporters in the world.

Related Keywords: clothes, fabrics, FDI, free on board, month of January, production output of garment and textile products, Saigon Garment Manufacturing Trading, turnover witnessed growth, Vietnam garment and textile exports, Vietnam Textile and Apparel Association

Vietnam garment and textile export turnover witnessed 1.2 percent growth in the month of January over the same month last year to reach US$1.9 billion, according to Vietnam Textile and Apparel Association.

The production output of garment and textile products such as fabric and clothes have been on the rise compared to the same period last year as many businesses have got orders to produce until the end of the first quarter this year and even the second quarter to some.

Related Keywords: exports, international market, textile and garment industry, Vietnam Textile and Apparel Association

Vietnam Textile and Apparel Association (VITAS') deputy chairman, Le Tien Truong, said that an improving global economy will be favourable for Vietnam, in general, and the local textile and garment industry, in particular, because the county will be able to boost its level of exports to the international markets.

Moreover, the global economic forecasts by the World Bank and the International Monetary Fund says that the world economy's outlook is expected to improve in 2014, as large economies, such as the US, the EU, Japan and South Korea, have seen recovery.