As per representatives of the Vietnam National Textile and Garment Group (Vinatex), the country’s garment and textile industry aims to achieve an export turnover of $40 billion this year. The group advocates that in order to achieve this goal, garment and textile companies should prepare specific solutions for each market scenario and closely collaborate with fiber and fabric firms to together overcome difficulties as well as market fluctuations.

This year, positive sign is expected from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with two potential markets: Canada and Australia. If market scenario is good, the EU market in the last six months of this year will add about $1 billion to garment and textile exports. Therefore, Vietnam’s garment and textile industry will be able to maintain steady export to main markets and achieve its export target of $40 billion this year.