Vietnam increases market share of textiles and garments in Australia

Vietnam's garment-textile and footwear export turnover to Australia ranked the 2nd after China, according to businesses at a seminar held by the Vietnam Textile & Apparel Association (Vitas) in HCMC.

Vietnam increases market share of textiles and garments in Australia. (Photo: KK)

Vietnam increases market share of textiles and garments in Australia. (Photo: KK)

Nguyen Thi Tuyet Mai, deputy general secretary of the Vietnam Textile and Apparel Association (VITAS) and head of VISTA’s representative office in HCMC said that last year, the two countries' bilateral turnover reached US6.46 billion, up 22.2 percent over the same period last year. Of which, Vietnam's export and import turnover with Australia was US$3.3 billion and US$3.17 billion, up 15.1 and 30.1 percent respectively compared with the same time of the previous year.
The growth rate of bilateral export-import turnover between Vietnam and Australia has increased by 29 percent in the last five years.
While ASEAN member countries, especially Myanmar and Indonesia, take advantage of the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) and its lower tariff rates, Vietnamese businesses know so little about the benefits of AANZFTA for exporters and importers of goods, she added.
Chairman of the Vietnam Textile & Apparel Association (Vitas) Vu Duc Giang said enterprises should actively seek and capture market information, and exploit the close connection between Australia and New Zealand markets to increase market share of Vietnamese products in these countries.
Vitas will help local businesses meet rules of Origin (ROO) Provisions of AANZFTA and provide a clear understanding of the trade agreement to reap the benefits from AANZFTA, he added

By MINH XUAN – Translated by Kim Khanh

Other news

Most view

Bac Giang lychees (Photo: VNA)

Bac Giang’s lychee value estimated at 240 million USD

Thieu lychee, a unique fruit of the northern  province of Bac Giang, is expected to record 5.5 trillion VND (240.28 million USD) in value this year if it can retain its current price until the end of the fruit season.


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

DIG issue 14 million shares

Development Investment Construction Joint Stock Corp (DIG)’s shareholders have approved its plan to issue 14.3 million shares in the second and third quarters of 2018.