The garment and textiles industry posted a massive 5.1 billion USD in exports revenues for the first eight months of the year, representing a year-on-year surge of 30 percent.
The US remains to be Viet Nam’s largest market by importing almost 3 billion USD of products or a 20 percent increase over the same period last year. The figure represented a 60 percent share of Viet Nam’s gross garment exports.
The post-WTO surge of Viet Nam’s textiles and garments exportation to the US at 25 percent in the first half, however, is just slightly higher than the quota-imposition period prior to the country’s WTO membership which stood at 21 percent, said Le Quoc An, Chairman of the Viet Nam Textiles and Garments Association (VTGA).
“The recent level of exports by the textile and garment industry has not shown any signs of “unexpected highs” for the US side to use as a pretext for sueing Viet Nam on dumping charges,” he said.
The VTGA chief unveiled a plan in association with the Ministry of Industry and Trade to further lobby US authorities, especially the Department of Commerce, to lift more barriers that are blocking Viet Nam’s textile and garment exports.
An urged domestic enterprises to strictly control their exports to the world’s largest market by focusing on high priced contracts while turning away small and low value deals.
“This should allow the textile and garment industry to maintain its high export growth rates in the rest of the year,” emphasised the garment expert.
He also urged firms to expand into other markets such as the European Union and Japan.
Source: VNA
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