According to a report by "Vietnam News Agency" on December 12, the chairman of the Vietnam Textile Association, VU DUC GIANG, stated at the 6th Vietnam Textile Association Conference and the 2020 Summary Conference that Vietnam’s textile exports in 2019 amounted to 38.9 billion U.S. dollars. It is estimated that the export volume in 2020 will be about 35.2 billion U.S. dollars, and the export target by 2025 is 55 billion U.S. dollars, of which 3.5 billion square meters of fabrics are exported, and 8,500 products of clothing are exported. Strive to achieve a trade surplus of 33 billion U.S. dollars by 2025, with an average annual growth rate of approximately 11.6% for the period 2021-2025.

In order to achieve this goal, the chairman of the Vietnam Textile Association stated that in the period from 2020 to 2025, the association will be committed to comprehensive, research and propose insufficient policies and mechanisms to the government and various ministries; it will play a role among member companies to form satisfaction. The textile supply chain required by the origin of the free trade agreement; linking domestic schools and research institutes with enterprises to train high-quality human resources.

The chairman of the Vietnam Textile Association stated that he would recommend that the Ministry of Industry and Trade of Vietnam submit the "Vietnam Textile and Apparel Industry Development Strategy by 2030 to 2035" for government approval as soon as possible. The content includes the national plan and the construction of infrastructure for large-scale textile and apparel industrial zones, and the construction of concentrated Wastewater treatment system to attract color and dyeing projects; priority is given to projects with advanced technology. At the same time, the government and various ministries should continue to reform administrative procedures, eliminate difficulties, ensure a smooth business investment environment, and reduce business costs. The association suggested that the Ministry of Finance of Vietnam should study and suggest to the government that the value-added tax should be abolished for enterprises that use domestic fabrics for export processing, creating conditions for the formation of a link.

Vietnam’s "Young People Online" reported on December 13 that Vietnam and South Korea signed the "Vietnam-EU Free Trade Agreement" (EVFTA) fabric cumulative origin agreement.

The Ministry of Industry and Trade of Vietnam stated that this is a particularly important agreement for Vietnamese companies. It assists companies in using high-quality textile raw materials produced in South Korea and eliminates the bottleneck of the origin of textiles exported to the EU, because South Korea has also signed a free trade agreement with the EU. agreement.

According to EVFTA regulations, in addition to meeting strict quality standards, in order to enjoy the preferential tariff reduction, companies must also guarantee strict origin requirements. Among them, the origin rule of "starting with fabric" requires that the fabric used to make clothing must be in Vietnam Or woven in EU member states.

According to data from the Ministry of Industry and Trade of Vietnam, the EU is the most demanded market for textiles and apparel, with annual imports exceeding US$250 billion. However, the export volume of Vietnam's textile and clothing to the EU is still very small. In 2019, the export value was only 4.3 billion US dollars, accounting for 2% of the EU market share.

Experts estimate that if EVFTA takes effect, by 2025, Vietnam’s textile and apparel exports to the EU market will increase by approximately 67% compared to before the signing.

The Ministry of Industry and Trade of Vietnam stated that it is "very necessary and timely" to sign the above-mentioned agreement on the accumulation of origin with South Korea, so as to help Vietnamese enterprises solve their difficulties immediately and take advantage of the opportunity to export textiles and garments to the EU market as soon as possible.

According to a report by Vietnam’s “Customs News” on November 20, the General Administration of Customs of Vietnam announced that as of the end of October, Vietnam’s total imports reached US$210.3 billion, a slight increase of 0.3% year-on-year, equivalent to a net increase of US$661 million. In the first 10 months, the most important commodities imported were: raw materials for the production of textiles, clothing and footwear.

Imports of textile and apparel raw materials (including cotton, textile fibers and yarns, various types of cloth, and accessories for textiles, clothing, leather and footwear, etc.) amounted to 15.46 billion U.S. dollars, a year-on-year decrease of 13.5% and a net decrease of 2.7 billion U.S. dollars. China is still the largest import market. Despite an 8% drop, it still accounts for 50% of the total imports.

Vietnam's textile industry may flourish, and Chinese textile raw materials, textile machinery, dyeing and finishing equipment and related supporting enterprises may usher in a wave of dividends.