Garments exports of Vietnam targetting new markets

Garment exports to new markets will account for roughly 5 percent of the industry’s total export turnover this year, according to the Vietnam Textile and Apparel Association (Vitas).

Vitas said that domestic apparel producers had recently won a number of export contracts in new markets such as Turkey and Egypt.

The Middle East had also become a major market for Vietnamese cotton clothing, while Russia had imported a high volume of children’s clothes – chiefly jeans and jackets, it had.

Vitas said it hoped sales to new export markets would partly offset a drop in orders from major markets such as the US and EU.

Due to the global economic slowdown, the country’s apparel export turnover to its traditional importers has shrunk markedly, forcing the industry to revise down its export target from US$10.5 billion to US$9.2 billion this year.

Vitas chairman Le Quoc An said the sector had earned US$5 billion from exports in the first seven months of this year.

With the monthly average export turnover expected to be about US$800 million from now to the end of this year, the industry’s total annual export revenue was likely to be US$9.2 billion, An said.

In order to meet its export targets, the sector must conduct more trade-promotion campaigns to find new markets, in South Africa, Africa and the Middle East, An said.

He added that Vitas would also look to promote Vietnamese garments in Asia.

Source: VOV News

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