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Vietnam’s textile and garment sector has high hopes for 2019

18/01/2019
Textile and garment exports from Vietnam were worth $36 billion in 2018, up 16% compared to the previous year, according to the Vietnam Textile and Apparel Association (VITAS). 

VITAS chairman Vu Duc Giang said this growth came during a year in which the world saw “complicated developments” such as rising trade disputes. 

The organisations said there are also positive signs for 2019, with many companies within the country’s garment and textile sector having received good orders for at least the first half of the year. It is also expected to benefit from new trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

As a result, VITAS has set an export target of $40 billion for the sector for this year. This would represent growth of 10.8% compared to 2018. 

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