Troung Van Cam, Chairman, Vietnam Textile and Apparel Association (VITAS), says, Viet Nam’s textile exports are projected to rise by 9.2 per cent rise to $44 billion in 2024 from 40.3 billion seen in 2023.
However, Việt Nam’s exports continue to be targeted by trade protectionism, defence mechanisms, and barriers in multiple countries, adds the Ministry of Trade and Industry.
To tackle these problems, the ministry plans to initiate more trade negotiations, linkages, and agreements besides promoting FTAs with potential partners such as the UAE and countries in South America, adds Nguyen Cam Trang, Deputy Director General, Agency of Foreign Trade.
The agency plans to encourage companies to utilise FTAs to boost exports and switch to official exports coupled with effective branding; work with localities, associations, and enterprises to expand markets and boost product consumption; and frequently update businesses on changes in export policies and criteria for them to devise strategic production plans, she notes.
Vietnamese businesses continue to suffer from supply chain challenges and high input prices, opines Dr Can Van Luc, Economic Expert. These businesses need to diversify funding and supply sources, expand their markets, and connect with potential partners, as well as proactively opt for green production, green consumption, and circular economic practices, he adds.
VITAS will help the businesses introduce new measures for sustainable development, markets, human resources, science and technology, and fundraising, adds Cẩm.
