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Related Keywords: maintain export growth, meet its revenue target, plans to increase shipments, six percent in two markets, US and Japan market, USD thirty billion from exports this year, Vietnam Textile and Apparel Association, Vietnam textile and apparel sector, Vitas

Vietnam textile and apparel sector plans to increase shipments to the US and Japan and maintain an export growth of 6 percent in the two markets to meet its revenue target of $30 billion from exports in 2017, Vietnam Textile and Apparel Association (Vitas) said.

The US and Japan imported garments and textile products worth US$15 billion from Vietnam in 2016. This accounted for 53.5 percent of the garment and textile sector’s export turnover of $28.3 billion last year.

Related Keywords: benefit from lower costs, buyers shifting their orders from Vietnam, export revenue, lending rates higher, minimum wage raise, shut down following Brexit, struggling to find new orders, UK textile and garment enterprises operating, Vietnam textile and apparel sector, Vietnamese dong currency stable to other countries, Vitas

Vietnam textile and apparel sector posted export revenue of only US$12.76 billion in the first six months, growing 4.72% year-on-year representing just 41% of the full-year target. Again, the growth was mainly driven by foreign direct investment (FDI) firms as the domestic peers struggled to find new orders in the period, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), at a press conference in Hanoi last week.