Chairman of the Vietnam Textile & Apparel Association (Vitas) Vu Duc Giang has stated that Vietnam’s potential of exporting apparel to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) member states and Australia in particular is huge.
During a seminar held in Ho Chi Minh City on May 11, Giang asked Vietnamese apparel exporters to devise a strategy to take advantage of incentives brought about by the deal and other free trade agreements signed by Vietnam.
Amidst the fourth industrial revolution, firms need to invest in modern technology to meet stringent demand of customers, he said.
Vitas Vice General Secretary Nguyen Thi Tuyet Mai said in order to tap tax incentives in FTAs, firms must meet demand for rules of origin and control supply chain in the region.
In the near future, Vitas will hold more seminars on CPTPP terms and connect domestic fiber manufacturers, weaving and dying establishments with buyers.
A representative from Australia’s IEC Group said though Australian population is only one-fourth of Vietnam’s but they are ready to spend more so that firms need to offer products with high quality and diverse designs.
There are only five sport apparel firms in Australia with a 16 percent market share so that Vietnamese enterprises could enter the market in the future, he said, adding that apparel businesses could access Australia via trade fairs.
IEC will hold a specialised exhibition for global suppliers in apparel, accessories, leather and footwear in Melbourne, Australia from November 20-22. VNA
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