The textile and garment industry revised its export target from US$10.5 billion to $9.2 billion this year, and also set lower objectives for the period between 2010 and 2015 due to the impacts of the global financial crisis.
The seminar, held by the Ministry of Industry and Trade (MoIT) in Ha Noi yesterday, was aimed at reviewing export performance in the early months of this year and mapping out strategies for its development during the period.
Viet Nam Textile and Apparel Association (Vitas) chairman Le Quoc An said the sector had earned only $5 billion from exports in the first seven months of this year. However, the export value in the later months was usually lower in comparison with early months .
With the monthly average export turnover expected at over $800 million from now to the end of this year, the industry’s total export revenue would likely be $9.2 billion for the whole year, An said.
The industry also revised its targets from $12 billion to $10.5 billion for next year, and the figure for 2015 will also likely be reduced from $18 billion to $17 billion.
"The sector’s annual export growth rate in the 2011-15 period is estimated at 10 per cent. Although this is lower than its expected 15 per cent, it is based on the large statistics of around $10 billion, and it will be able to earn an additional $1 billion year by year, which is not a small figure," said Le Tien Truong, deputy director general of the Viet Nam National Textile and Garment Group (Vinatex).
Although export targets had been revised, An was still worried that the economic downturn would cause some countries to use technical barriers to safeguard their products.
Particularly, as of January 1 next year, garments imported into the US will have to attain certificates from a third nation to verify the fact that the products do not cause harm to users.
"This will trigger adverse impacts on our clothing exports to this market in the near future," An said.
In addition, local producers were coping with difficulties of low salaries for garment workers, a shortage of qualified labourers and a great dependence on imported raw materials and accessories.
Phan Thi Dieu Ha, deputy head of the MoIT’s Import and Export Department, said the export target revision in the next few years was quite acceptable.
"Because during the 2011-15 period, there will be no breakthroughs or milestones for the industry to generate vigorous growth of 30-40 per cent annually (like WTO access)," she added.
Deputy Minister of Industry and Trade Bui Xuan Khu said that in the face of current difficulties, Vinatex should build up strategies, enhance labour training, expand cotton plantation and show its leading role in the whole sector and set a higher growth target in comparison with the average growth of the whole industry, possibly at 12 per cent annually.
