Over the years, businesses have focused on brand development, creating higher value in export orders and establishing a solid position in the domestic market with "Made in Vietnam" products gaining a strong foothold and winning over consumers in foreign markets.
While a series of sanctions caused the Russian market to wobble at times, Vietnamese textile and garment enterprises have stood firm and continued to earn profits.
According to the trade deal, textile and garments are among 12 Vietnamese products that may face the EAEU’s safeguard duties if import volumes during a calendar year exceed the trigger level of the agreement.
Vietnamese textile and garment exports to Trans-Pacific Partnership (CPTPP) markets have failed to match the country''s stature as the world’s second largest apparel exporter.
Vietnamese textile and garment companies face a huge
challenge with the market set to be flooded with imports following the
country''s accession to the ASEAN Economic Community (AEC) and
Trans-Pacific Partnership (TPP) treaty.
The value of Viet Nam''s textile and garment exports reached US$12.18
billion in the first six months of this year, the Viet Nam National
Textile and Garment Group (Vinatex) said.
Though exports for textile and garments in the first quarter (Q1)
reached US$4.75 billion, industry insiders said the figure was worse
than forecast, the Hai quan (Customs) newspaper said.