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Vietnam’s textile and garment companies are trying to find more orders to ensure continuous production from now to the end of the year.
Vietnam and Bangladesh are forecast to reap benefits from becoming alternative sourcing destinations as the fashion sector is reckoned the most exposed amid an escalating US - China trade war, according to Fitch Solutions analysts.
Vietnam’s textile and garment may not be able to take full advantage of the preferential tariffs of two important FTAs, CPTPP and EVFTA, because of problems in input materials.
Vietnam's yarn industry faces many challenges in production and export, especially to China, one of the largest export markets for local yarn products, according to experts.
The textile and garment industry, aiming to take advantage of free trade agreements (FTAs) with a focus on green manufacturing, is upbeat about earning US$60 billion from exports by 2025.