Bringing along an eager mind to enter the new Lunar year, the community of businesses in HCMC hope that the global economy will gradually recover, and that they will receive more orders in the future to overcome current financial difficulties.
During the fourth quarter of every year most of the export companies in Vietnam find the need to step up pace in order to meet the increased demand in orders from major import markets such as the US and the European Union.
In the first four months of this year, export turnover to the US market had continuously seen sharp increases, maintaining the growth of over 20 percent over the same period. This is not beyond the expectation of enterprises. Besides the advantages that Vietnamese enterprises have got in their hands, the commercial counselor of the Vietnam Trade Office in the US also warned that this market is containing many great risks.
Europe is a market of 500 million people, with great potential for development, but Vietnam's annual textile and apparel export turnover to this market is merely over US$8 billion. In just over 10 days, the Vietnam - EU Free Trade Agreement (EVFTA) will officially take effect, whether textile and apparel enterprises can take advantage of this great opportunity?
The European Parliament has ratified the Vietnam - EU Free Trade Agreement (EVFTA) and the Vietnam - EU Investment Protection Agreement (EVIPA). How will Vietnam’s import-export industry move, and what do enterprises need to do to get good results?
The domestic garment industry has faced many challenges in exporting to key markets, such as the European Union (EU) and the United States, but it still has a chance of achieving its export target this year, according to experts.