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Vietnam’s textile industry falls short of $ 5.2-5.4 billion target
Vietnam’s textile export was expected to increase 10%, from $4.32bil every year to $5.2-5.4 billion, said Chairman of the Vietnam Textile Association, Mr. Le Quoc An....more
by Textile Intelligence
View more news from [ Hanoi ] [ Vietnam ]
Vietnam’s textile export was expected to increase 10%, from $4.32bil every year to $5.2-5.4 billion, said Chairman of the Vietnam Textile Association, Mr. Le Quoc An. According to Mr. An, surges made in EU market is expected to reach 15% (around $875mil), followed by Japan with 14% ($605mil) and the US with 6.5% ($2.64bil).The Chairman described the figures as really very good, as that figure was $250 million in 2002, while quota items increased 6%, or $1.62 billion. Export of non-quota items to the US is estimated to reach $1.02bil, a 9% increase against last year. Export growth to Japan has returned. It becomes a very competitive market as Japan doesn’t impose quota restrictions on textiles. “Japan is a severely

competitive market. However, once you have got credibility, growth in exports is absolutely inevitable,” said General Director of the Saigon Garments Company 3, which exports 40% of its output to Japan. He added that tax policies and customs procedures have also caused in part a slow increase in textile exports. The Vietnamese edge in the textile industry is still lower than that of other competitors in quality, variety and technology. Makers can be certain of difficulty in exports next year as a China-US textile agreement was signed in early November this year. It is said that, under the new agreement, exports of most Chinese clothing and textiles to the US will be allowed to rise between 8 and 10% in 2006, an increase on the temporary 7.5% limit the US imposed on China earlier this year. 



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