Smooth Vietnam garment exports are expected to complete the full year ahead of schedule

In the first nine months of this year, Vietnam’s exports reached 8 billion U.S. dollars. Since the beginning of 2009, clothing exports have accounted for a major proportion.

Vietnam’s clothing exports to South Korea have seen the highest growth rate of 84%. This is mainly thanks to the reduction of tariffs with the implementation of the ASEAN-Korea resource trade agreement, while export revenue to the United States has also increased by 20%. Exports to the United States account for 55% of Vietnam's apparel industry's export revenue.

Vietnam's clothing exports to the European market have rebounded rapidly in the past three months, rising 7% after a long-term decline.

Li Fantao, vice president of the Vietnam Clothing and Textile Association (Vitas), said that many domestic clothing companies received orders for the first half of 2011, and the prices have also increased by 10-15% year-on-year.

A representative from Ho Chi Minh City's Viet Hung Garment Co., Ltd. said that the company recently signed a $1.2 million export orientation and will export to Japan in early 2011.

Vietnam’s apparel companies also have the opportunity to increase exports and investment in Laos and Cambodia because the European Union has decided to agree to raw materials originating in these two countries.

Li Fantao said that under this advantage, the garment industry may achieve its export target of 10.5 billion U.S. dollars this year in November this year.

In order to achieve sustainable development, garment business also paid great attention to the domestic market and participated in a series of programs to encourage local consumers to use Vietnam's commodities and penetrate Vietnam's commodities into rural areas.

Many supermarkets under the Vietnam Apparel and Textile Group have already issued plans to expand their foothold in the domestic market and strive to achieve 17-20% of retail sales growth in 2010.