Vietnam’s “Customs Online” reported on March 3 that Vu Duc Giang, chairman of the Vietnam Textile and Garment Association, said that Vietnam’s textile and clothing exports reached US$5.8 billion in the first two months of 2021, a year-on-year increase of 4 %. In the same period last year, textile and apparel exports were only US$3.5 billion, a year-on-year decrease of 9.8%. It can be seen from this that after the severe impact of the new crown epidemic in 2020, the textile and apparel industry has clearly begun to recover.
Vietnam’s textile and apparel industry has set a goal of exports reaching US$39 billion in 2021. Vu Duc Giang believes that this goal is feasible because Vietnam’s textile and garment industry faces huge opportunities brought by multiple newly signed free trade agreements. Wu Dejiang particularly emphasized that the RCEP agreement will provide assistance to the textile and apparel industry and can replace markets such as Europe that are still affected by the epidemic. At the same time, the free trade agreement will also help attract investment in the raw material supply chain. </p
