Tran Huu Buu, Deputy Director of the Ministry of Industry’s International Co-operation Department attended a seminar in HCM City last weekend.
During the meeting, Tran said that the textile and footwear industries should refurbish themselves with modern equipment and improve quality to face fierce competition from India and China. Management of these sectors should also be improved.
Government should make efforts for joint ventures and partnerships which will help improve their share in global market. With more foreign investments, these sectors can flourish and will increase the amount of locally sourced materials.
With the accession to WTO, the industry would no longer be dependent on garment quotas. This would provide domestic producers more access to WTO-member markets.
Vietnam has implemented many WTO commitments and open up its markets to foreigners.
Reports revealed that tariffs on imported textiles and apparel have decreased from 50 to 20 percent and on foreign fabrics the drop is seen 40 to 12 percent.
The Vietnamese Government needs to keep a close eye on the quality and prices of garment, apparel and footwear products and produce high-grade items to avoid anti-dumping duties.
During the meeting, Tran said that the textile and footwear industries should refurbish themselves with modern equipment and improve quality to face fierce competition from India and China. Management of these sectors should also be improved.
Government should make efforts for joint ventures and partnerships which will help improve their share in global market. With more foreign investments, these sectors can flourish and will increase the amount of locally sourced materials.
With the accession to WTO, the industry would no longer be dependent on garment quotas. This would provide domestic producers more access to WTO-member markets.
Vietnam has implemented many WTO commitments and open up its markets to foreigners.
Reports revealed that tariffs on imported textiles and apparel have decreased from 50 to 20 percent and on foreign fabrics the drop is seen 40 to 12 percent.
The Vietnamese Government needs to keep a close eye on the quality and prices of garment, apparel and footwear products and produce high-grade items to avoid anti-dumping duties.
