Vietnam exported nearly 37 billion USD worth of textile-garment products in 2018, and the figure is expected to hit some 40 billion USD this year (Photo: VNA) HCM City (VNA) – Recommendations were given to Vietnamese textile-garment businesses at a workshop in Ho Chi Minh City on April 10 to help them develop strategies for sustainable development. Secretary General of the Vietnam Textile and Apparel Association (VITAS) Truong Van Cam said the country is now one of the biggest textile-garment exporters in the world. The sector gained nearly 37 billion USD from exports in 2018, up 16 percent year-on-year, with the figure expected to hit some 40 billion USD in 2019. Additionally, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is forecast to create a driving force for Vietnam’s textile-garment industry in 2019 and the following years, he said. Despite its relatively fast growth, the industry still has certain weaknesses, especially in compliance with rules of origin, Cam said, noting that this is considered one of the sector’s major challenges as it strives to capitalise on new-generation free trade agreements (FTAs), including the CPTPP. He said that aside from the CPTPP’s difficulties, there are also opportunities that will arise as strict… Read full this story
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