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Tuesday, 05 February 2019 12:49

Trade War Fallout: Turkey, Vietnam, Bangladesh aim to increase apparel exports

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The trade war between China and the United States is expected to favor Turkey and Vietnam. Turkish clothing exports are expected to rise ten per cent in 2019. In 2018, the country increased clothing exports by 3.6 per cent compared to the previous year.

The European Union continues to be the largest market for the Turkish clothing industry. In 2018, 71 per cent of its sales went to European countries. The only fear the Turkish sector has is a hard Brexit, which could put in check exports to the European Union.

Vietnam too is looking to improve its positioning by taking advantage of the bad relationships between the largest fashion consumer market and its main supplier. The Vietnamese textile and clothing industry plans to increase its exports by 11 per cent in 2019. Vietnam is about to sign a free trade agreement with the European Union, which would eliminate practically all existing tariffs in the exchange of goods between both parties.

Bangladesh also aims to take advantage of the trade conflict between the United States and China, and political tension between the European Union and Bangladesh. In the first half of fiscal year 2018-19, textile and clothing exports from Bangladesh grew by 14.42 per cent compared to the same period of the previous year. Clothing exports soared in these six months by 15.6 per cent.