Traceability of raw materials a big boost to textile industry competitiveness: experts

Verified data and transparent supply chains are the leading factors in competitiveness in the textile industry, experts have said.
Traceability of raw materials a big boost to textile industry competitiveness: experts
American cotton experts and suppliers at the 2022 Cotton Day Vietnam held in HCM City on October 4. — VNA/VNS Photo

HCM CITY — Verified data and transparent supply chains are the leading factors in competitiveness in the textile industry, experts have said.

President of the Vietnam Textile and Apparel Association, Vũ Đức Giang said the garment and textile export target this year was US$42-43 billion, and to achieve this the industry had been focusing on raw material sources and regulations related to origin in its export markets.

He stressed that Vietnamese businesses were in need of information about cotton sources and market forecasts for 2023-24.

At the 2022 Cotton Day Vietnam held in HCM City on October 4, a representative from the Cotton Council International said more and more global brands and retailers would require cotton products sold in the US and EU to be sustainable and with a transparent supply chain that is verified to be free of forced labour.

US suppliers and producers shared information including about market trends and ideas to optimise co-operation between the Vietnamese garment and textile sector and their cotton industry.

Benjamin Petlock, senior agricultural attaché at the US consulate in the city, said breakthrough growth in Việt Nam's garment and textile exports has made the country a promising market for global raw material suppliers.

Meanwhile, the changes seen in the industry recently proved its timely adaptation and flexibility, he added. – VNS

Source: VNS
vietnamnews.vn

Related News

Multi-dimensional picture of textile and garment enterprises

Multi-dimensional picture of textile and garment enterprises

VCN - Despite a quite positive start in the first quarter of 2024, the textile and garment industry has still faced many challenges from new requirements of importing countries, requiring enterprises to have proactive solutions to respond.
Vietnam textile and garment strives to increase the localization rate

Vietnam textile and garment strives to increase the localization rate

VCN - Increasing textile and garment export turnover and effectively take advantage of incentives from Free Trade Agreements (FTAs), the Vietnam Textile and Apparel Association (Vitas) determined that, in addition to greening, investment in development science, technology and human resources, an important solution is to attract investment in the industry's supply shortage, specifically high-tech weaving, dyeing and finishing projects in industrial parks.
Navigating through small and fragmented orders

Navigating through small and fragmented orders

VCN - As 2023 progressed past three-quarters of its duration, it became an increasingly challenging time for textile and garment enterprises. This period was marked by a significant drop in consumer demand, leading to a decline in exports across many major markets.
Textile and garment exports are expected to reach 40.3 billion USD

Textile and garment exports are expected to reach 40.3 billion USD

VCN - Textile and garment exports for the whole year are expected to earn 40.3 billion USD. The industry's export target for 2024 is 44 billion USD.

Latest News

Vietnamese lychees become familiar to Thai consumers

Vietnamese lychees become familiar to Thai consumers

A programme to promote Vietnamese lychees to Thai consumers was opened at Centralworld commercial centre in Bangkok, Thailand on June 21.
Vietnam Report announces top 10 reputable technology companies of 2024

Vietnam Report announces top 10 reputable technology companies of 2024

The Military Industry and Telecoms Group (Viettel), FPT Corporation, Vietnam Posts and Telecommunications Group (VNPT) are among the top 10 reputable technology companies of 2024, which were freshly unveiled by the Vietnam Report JSC on June 21.
Geographical Indication certificates help increase value of Vietnamese farm produce

Geographical Indication certificates help increase value of Vietnamese farm produce

Geographical Indications (GIs) are considered an effective tool to promote the export of Vietnamese agricultural products.
Orders increase, exports in the first 5 months of the year continue to prosper

Orders increase, exports in the first 5 months of the year continue to prosper

VCN - Export turnover to most markets and major trading partners in the past 5 months has recovered well and reached high double-digit growth.

More News

Import-export turnover reached nearly US$65 billion in May

Import-export turnover reached nearly US$65 billion in May

VCN - Import and export in May continued to remain at a high level and was the month with the second highest turnover in the first 5 months of the year.
Russia’s Far East potiential destination for Vietnamese businesses: official

Russia’s Far East potiential destination for Vietnamese businesses: official

There is ample room to promote trade between Vietnam and Russia’s Far East, head of the Vietnam Trade Office Branch in the Far East region Nguyen Hong Thanh said in an interview with the Vietnam News Agency (VNA) ahead of the state visit to Vietnam by President Vladimir Putin.
Exports up 13.8% in first half: ministry

Exports up 13.8% in first half: ministry

Vietnam’s exports expanded about 13.8% year-on-year in the first half of this year, and imports rose 18.4%, the Ministry of Industry and Trade (MoIT)’s Planning and Finance Department said at a press conference in Hanoi on June 19.
Seafood businesses clearly point out barriers affecting exports

Seafood businesses clearly point out barriers affecting exports

VCN - Many seafood businesses have mentioned barriers that are affecting exports that need to be removed.
Many exported seafood products have experienced high growth

Many exported seafood products have experienced high growth

VCN - Except for shrimp products, which decreased slightly, all exported seafood products in May 2024 all grew well, including many products with high double-digit growth spurts.
Export turnover increases over 14.9%

Export turnover increases over 14.9%

VCN - By the end of May, export activities maintained a double-digit increase with a turnover of US$156.28 billion.
Rice exports to China drop sharply

Rice exports to China drop sharply

VCN - While the amount of rice exported to Southeast Asian markets increased sharply, the results in the Chinese market were the opposite.
Germany supports Vietnam’s garment industry in green transformation

Germany supports Vietnam’s garment industry in green transformation

Five pilot projects on green technology for Vietnamese textile and garment exporters went on show at the ‘For a Sustainable Garment and Textile Industry in Vietnam’ show held in Hanoi on June 17.
Tuna exports expected to grow by 20% in H1

Tuna exports expected to grow by 20% in H1

Tuna exports are projected to reach 456.8 million USD in the first half of 2024, a year-on-year increase of 20%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Read More

Your care

Latest Most read
Vietnamese lychees become familiar to Thai consumers

Vietnamese lychees become familiar to Thai consumers

A programme to promote Vietnamese lychees to Thai consumers was opened at Centralworld commercial centre in Bangkok, Thailand on June 21.
Vietnam Report announces top 10 reputable technology companies of 2024

Vietnam Report announces top 10 reputable technology companies of 2024

The Military Industry and Telecoms Group (Viettel), FPT Corporation, Vietnam Posts and Telecommunications Group (VNPT) are among the top 10 reputable technology companies of 2024, which were freshly unveiled by the Vietnam Report JSC on June 21.
Geographical Indication certificates help increase value of Vietnamese farm produce

Geographical Indication certificates help increase value of Vietnamese farm produce

Geographical Indications (GIs) are considered an effective tool to promote the export of Vietnamese agricultural products.
Orders increase, exports in the first 5 months of the year continue to prosper

Orders increase, exports in the first 5 months of the year continue to prosper

VCN - Export turnover to most markets and major trading partners in the past 5 months has recovered well and reached high double-digit growth.
Import-export turnover reached nearly US$65 billion in May

Import-export turnover reached nearly US$65 billion in May

Import and export in May continued to remain at a high level and was the month with the second highest turnover in the first 5 months of the year.
Mobile Version