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||20 July 2009
Vietnam garment exports seen rising
A number of Vietnamese garment and textile enterprises have won contracts to export their products till the end of October this year, said a report posted on VNBusinessNews.com, citing the Vietnam Textile and Apparel Association (Vitas).
According to Vitas, orders from Japan increased sharply, making Japan the largest importer of Vietnamese garment products.
At present, the sector exports 33.3 percent of its products to Japan , 23 percent to the US , 26.5 percent to the EU, and 17.2 percent to other markets.
Vitas Vice President Pham Xuan Hong said that as the sector’s largest market, the US , has shrunk, Vietnamese enterprises are exerting their efforts to find new outlets.
At present, the Middle East is the largest market for Vietnam ’s cotton clothes and Russia is the market for children’s wear, jeans and jackets. Export value to those new markets has recently increased by about 5 percent of the sector’s total export value.
The Apparel Export Promotion India has forecast that Vietnam ’s garment and textile export value may reach 10.98 billion USD this year as compared to $8.4 billion in 2008. It added that the target of earning $9.5 billion is not feasible, but the value of $9-0.1 billion of 2008 is reachable.
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