Canada will be a potential market for Viet Nam’s export garment products when the Comprehensive Partnership and Trans-Pacific Partnership (CPTPP) takes effect in early 2019, according to Le Tien Truong, general director of Viet Nam National Textile and Garment Group (Vinatex).
Truong said although the CPTPP does not include the US - which accounts for nearly half of Viet Nam’s annual garment export value, it has other great potential markets such as Australia, New Zealand, Chile and Canada
Canada imports textiles and garments worth of US$13.3 billion per year. However, Viet Nam’s textile and garment export value to Canada has reached only about $550 million a year, he said.
Meanwhile, Viet Nam the CPTPP is Viet Nam’s first free trade deal including Canada.
To seize this opportunity to access the Canadian market, Vinatex has sought Canadian garment enterprises and provided them information about Vietnamese export textile and garment products.
Specifically, Vinatex sent a delegation of local textile and garment companies to Canada to look for opportunities with textile and garment importers in this market, including Ha Noi Textile and Garment Joint Stock Corporation (Hanosimex), Hoa Tho Textile and Garment Joint Stock Corporation, Duc Giang Corporation and Phong Phu Corporation.
In Canada, the firms introduced their potential and strong points to potential partners.
Phong Phu’s representative said the corporation learned about the demand for textile and garment products of this market via direct contacts with Canadian customers. Next, it will set up production plans to achieve its goals in Canada.
Meanwhile, Hanosimex introduced its production meeting yarn rules of origin for two products. It has met 12 companies and introduced to them 40 kinds of cotton towel and knitwear.
Hanosimex has looked for more input material suppliers in Viet Nam or other member countries of the CPTPP to diversify commodities and build a flexible production model to meet demand from contracts of large volume with medium quality to contracts of small volume with high quality products.
Besides of trade promotion activities held by Vinatex, Hoa Tho Textile and Garment Joint Stock Corporation has connected with 14 customers to introduce 15 samples of trousers and suits made from Vietnamese, Thai and Indian materials. — VNS