Vietnam increases market share of textiles and garments in Australia

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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

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