Garment

The General Department of Vietnam Customs reported that as of mid-July, garment-textile was one of the four sectors posting the highest export revenue, with a record of over 20 billion USD, up nearly 20% year-on-year. Garment-textile was also among the six groups whose export value increased by over 1 billion USD. Vietnamese garment-textile products were shipped to 55 countries and territories worldwide, including 17 markets with a turnover of more than 100 million USD each. The US, Japan, the Republic of Korea and Canada were among major buyers of the Vietnamese products. Earlier, the Vietnam Textile & Apparel Association said textile-garment producers target to earn up to 21 billion USD from exports in the second half of this year, raising total shipments of the year to around 43 billion USD./. VNA … [Read more...] about Garment-textile exports set to hit 45.7 billion USD this year

Technology application helps increase garment and textile productivity (Photo: VietnamPlus) Hanoi (VNA) – Overcoming a series of difficulties caused by the COVID-19 pandemic, the garment and textile industry is now employing some 2.5 million workers, while generating 40 billion USD worth of export and a trade surplus of nearly 20 billion USD. Last year, the sector began recovering as its key major markets bounced back thanks to effective economic stimulation packages, said Executive Director of the Vietnam Textile and Garment Group ( Vinatex ) Cao Huu Hieu, in an interview with the e-newspaper VietnamPlus. Hieu listed a series of difficulties and challenges facing garment-textile firms over the past two years, such as decreasing demand and disrupted material supply that led to the cancellation or postponement of orders. Distancing measures at home also caused domestic revenue to plunge, he said, adding that they had to manage to avoid being fined due contract violations … [Read more...] about Garment-textile surmounts COVID-19 blow

Industry Minister Agus Gumiwang Kartasasmita. (Photo: ANTARA/VNA Jakarta (VNA) – Indonesia ’s textile and garment industry will expand its markets to meet the export target of 13-14 billion USD this year, according to the country’s Industry Minister Agus Gumiwang Kartasasmita. textile industry continues to give a good performance, mostly driven by the rapid growth of sales through e-commerce platforms as well as consumer awareness of the sustainability principle, which is in line with the commitment to reduce carbon and water consumption in the production process, Kartasasmita said in a statement. investment in Indonesia. It is also carrying out a machine and equipment restructuring programme in the fabric refinement and fabric printing industries. VNA … [Read more...] about Indonesia’s garment, textile exports set to reach 14 billion USD this year

Illustrative image (Photo: Xinhua) Phnom Penh (VNA) – The National Minimum Wage Council of Cambodia on August 15 started talks to consider raising minimum wage for workers in the textile, garment, footwear and travel products and bags industries for 2023, reported the Khmer Times . The meeting heard views of stakeholders on the changes in social and economic criteria. “Employers’ representatives and the workers’ representatives were, however, unable to confirm some figures, and will do so at another meeting,” the statement following the meeting said. The next meetings will be held later this month and next month, it added. The minimum wage of workers in the textile, footwear and travel product sector is 194 USD per month, up 2 USD from 2021. Workers also received other allowances, including 7 USD in transport and housing allowance. The sector has about 1,100 factories and uses nearly 750,000 workers, becoming the biggest currency earner in Cambodia. In the … [Read more...] about Cambodia starts talks to raise wage for textile workers for 2023

These FTAs have laid the foundation for local businesses to expand their markets and further integrate into the global value chains. The vast network of free trade agreements (FTAs) that Vietnam is a part of has been creating a favorable environment for local businesses to access the global market. However, an active approach to utilizing these deals would be essential for them to truly benefit in long the long run. Production at Garment 10 Company. Photo: Pham Hung According to the Deputy Director General of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade Le Hoang Tai, the Vietnamese economy with a high level of openness has formed  trading partnerships with 230 countries and territories, of which 60 are sharing FTAs with Vietnam. “These FTAs have laid the foundation for local businesses to expand their markets and further integrate into the global value chains,” said Tai, referring to the US, EU, China, ASEAN, Japan, or South … [Read more...] about Vietnam’s businesses urged to stay active in FTA utilization

Exporters are allowed to self-certify the origin of export and import shipments with a value of less than EUR6,000 On June 11, 2021, the Ministry of Industry and Trade issued Circular 02/2021/TT-BCT guiding the implementation of UKVFTA rules of origin. The circular took effect on July 26, 2021. Accordingly, for export value exceeding EUR6,000, exporters must obtain a certificate of origin authorized by the Ministry of Industry and Trade. Exporters are allowed to self-certify the origin of export and import shipments valued at less than EUR6,000 between the UK and Vietnam. For imports worth more than EUR6,000 into Vietnam, exporters registered in an electronic database authorized by the UK customs authorities are allowed to self-certify. Proof of origin must be submitted to Vietnamese customs within two years of imports. Customs authorities may require a translation if not in English. Certificates of origin are valid for 12 months and must be submitted to customs authorities of … [Read more...] about UK tariff preferences benefit Vietnam