Vietnam Apparel Exporters Should Explore New Markets: VITAS
To beat the challenge of the Red Sea crisis, a top official of a Vietnam textile and garment association advised apparel exporters to diversify markets beyond Europe.
“Tensions in the Red Sea are a bottleneck for the textile and garment industry when exporting to the European market,” Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS) said.
“However, clothing exporters have still many opportunities in markets other than Europe,” he added.
The Chairman Vitas recommended that exporters should diversify products, markets and customers to be able to export to new and developing markets.
He applauded the fact that Vietnamese apparel exporters diversified their export markets and shipped to a total of 104 countries and regions in 2023.
“To diversify successfully, businesses need to meet the requirements of digital governance, green governance, sustainable governance and transparency,” the VITAS Chairman stated.
“At the same time, under increasing competitive pressure, businesses must proactively produce raw materials and equipment domestically,” Giang recommended.
