Mr. Truong Van Cam - Vice President and General Secretary of the Vietnam Textile and Apparel Association said: In the first eight months of 2022, the textile and garment industry's exports are estimated at 30.1 billion USD, and imports are estimated at 17.5 billion USD. Thus, the industry continued to have a trade surplus of about 12.6 billion USD.

"This year, Vietnam's textile and garment is expected to reach $43.5 billion in export turnover, although it is forecast that the last months of the year will face many difficulties," said Mr. Truong Van Cam.

Mr. Truong Van Cam also said: The industry's forecast of difficulties has begun to materialize. Many businesses have signs of a lack of orders and are accepting to work at low prices. Vietnam's textile and garment industry 80% of production capacity for export, fluctuations in the world market have a direct impact on the industry.

On the other hand, the Covid-19 epidemic in Vietnam has basically been controlled, but other markets, including the main raw material supply market for the industry, such as China (providing 50% of raw materials for textiles and garments, etc.) Vietnam) implemented very strict epidemic control measures, which affected the supply of inputs for production.

In 8 months, the textile and garment industry had a trade surplus of over 12 billion USD

In addition, the EU has introduced a new strategy on textiles, regulations on replacement rates, greening products, switching from fast fashion to sustainable fashion, which requires domestic enterprises to shift strongly to meet the needs of consumers. response.

Faced with these difficulties, at a trade promotion briefing session with the Vietnamese Trade Office system abroad recently held by the Ministry of Industry and Trade, Mr. Truong Van Cam suggested: In markets to supply raw materials for textile and garment, the Vietnam Trade Office in the host country works with the authorities to have a more convenient transportation route. In particular, domestic enterprises are still very confused in implementing the provisions of the new EU textile and garment strategy, needing more information support of the deal.

With information about Mexican businesses, Panama wants to find Vietnamese partners to cooperate in many fields, including textiles, said the leader of the Vietnam Textile and Apparel Association. Vietnam in these two markets to promote business connection between the two countries. “Mexico is a member of the Comprehensive Progressive Agreement for Trans-Pacific Partnership. In the first six months of the year, the industry's export growth to this market is very high, up to 83%, although the volume is not large, about 85 percent. million USD, but there is still a lot of potential for businesses to exploit," added Mr. Truong Van Cam.

Leaders of the Vietnam Textile and Apparel Association also proposed that the Ministry of Industry and Trade provide financial support for some members of the association to participate in two major fairs in Australia to learn about the market and connect with new partners.