In the past four months, Vietnam’s textile and garment industry witnessed a clearly fall in exports due to production-related difficulties arising out of the COVID-19 pandemic. Vietnam’s Textile Association reported that 70% of garment manufacturers started reducing shifts and rotating workers in March, with an additional 10% following in April or May. By June 2020, the estimated loss to the industry could reach US$508 million. Data from Vietnam’s Customs Agency suggests that imports and exports of all textile and garment products fell massively in the first quarter of 2020. Exports of garments total-led US$7.03 billion, a 1.4% year-on-year reduction compared to 2019 and 34% lower than the expected growth of 50% prior to the pandemic.
But at the same time, the EVFTA which is ratified by Vietnam's National Assembly in May, will make a huge contribution to Vietnam's textile and apparel exports. It will be Vietnam’s next big step in international economic integration since joining the World Trade Organization. Vietnam’s Ministry of Planning and Investment (MPI) estimates that by 2030 the EVFTA will increase Vietnamese exports to the European Union by 44%. It also forecasts an increase in the country’s economic growth by 7–8% in the period 2029–2033.Besides, with the upgrades of the China-US trade tensions, it will also have a huge impact on the Vietnam Textile and Apparel Industry. It will offer Vietnam an opportunity to serve as a counterweight to China’s growing economic power, brings Vietnam closer to international economic integration and deeper engagement with another key foreign partner.
Under the ever-changing global trade environment, it really matters for the industry players to know and learn the latest information from the aspects of Vietnam government officials, Vietnam powerful textile association, International apparel brands, Vietnam local garment manufacturers and some NGOs to deeply know the Vietnam market. This summit will focus on the latest global trade issues which will make a huge impact on the Vietnam textile and apparel industry like China-US trade wars, COVID-19’s impact on Vietnam textile and apparel industry and its supply chain, apparel sourcing shifts under the new background, apparel digital transformation and its importance when comes to the trade uncertainty and so on.
In the past four months, Vietnam’s textile and garment industry witnessed a clearly fall in exports due to production-related difficulties arising out of the COVID-19 pandemic. Vietnam’s Textile Association reported that 70% of garment manufacturers started reducing shifts and rotating workers in March, with an additional 10% following in April or May. By June 2020, the estimated loss to the industry could reach US$508 million. Data from Vietnam’s Customs Agency suggests that imports and exports of all textile and garment products fell massively in the first quarter of 2020. Exports of garments total-led US$7.03 billion, a 1.4% year-on-year reduction compared to 2019 and 34% lower than the expected growth of 50% prior to the pandemic.
But at the same time, the EVFTA which is ratified by Vietnam’s National Assembly in May, will make a huge contribution to Vietnam's textile and apparel exports. It will be Vietnam’s next big step in international economic integration since joining the World Trade Organization. Vietnam’s Ministry of Planning and Investment (MPI) estimates that by 2030 the EVFTA will increase Vietnamese exports to the European Union by 44%. It also forecasts an increase in the country’s economic growth by 7–8% in the period 2029–2033.Besides, with the upgrades of the China-US trade tensions, it will also have a huge impact on the Vietnam Textile and Apparel Industry. It will offer Vietnam an opportunity to serve as a counterweight to China’s growing economic power, brings Vietnam closer to international economic integration and deeper engagement with another key foreign partner.
Under the ever-changing global trade environment, it really matters for the industry players to know and learn the latest information from the aspects of Vietnam government officials, Vietnam powerful textile association, International apparel brands, Vietnam local garment manufacturers and some NGOs to deeply know the Vietnam market. This summit will focus on the latest global trade issues which will make a huge impact on the Vietnam textile and apparel industry like China-US trade wars, COVID-19’s impact on Vietnam textile and apparel industry and its supply chain, apparel sourcing shifts under the new background, apparel digital transformation and its importance when comes to the trade uncertainty and so on.
Outlook 2021 Under the Impact of COVID-19 Pandemic: New Challenges and Opportunities for Vietnam Textile and Apparel Industry
Latest Analysis of China-US Trade War and How will it Affect the Development of Vietnam Textile and Apparel Industry
"Made in Vietnam": Deep Interpretation on the Latest Changes and Regulations of the Country of Origin
What is Happening to the Vietnam Textile and Apparel Manufacturing and How will the Factories Survive Amid-COVID-19?
Under the New Trade Environment, Deep Analysis of the Implementation of EVFTA’s Impact on the Big Landscape of Apparel Sourcing and Existing Regional Apparel Supply Chain
How will the COVID-19 Affect the Global Textile and Apparel Sourcing and How will Apparel Sourcing Strategy is Shifting in Asia Amid the Global Trade Tensions
......
Delegate Profile
Business Sectors
Potential Speakers
CEO/COO/CFO
President
Vice President
Chief Procurement Officer
Sourcing Director/Manager
Managing Director
General Manager
Sales Director/Business Development Director
Supply Chain Director
Strategy Director
Marketing Director
Operation Director
International Market Director Import/Export Director
R&D Director
Technology Director
History Review
Relevant Event
CEO/COO/CFO
President
Vice President
Chief Procurement Officer
Sourcing Director/Manager
Managing Director
General Manager
Sales Director/Business Development Director
Supply Chain Director
Strategy Director
Marketing Director
Operation Director
International Market Director Import/Export Director
R&D Director
Technology Director
Info ECV International is a leading organizer and contractor of high-end international business events in Asia, with nearly 200 professionals in industrial research and event planning & execution. Every year, we hold around 40 high-level international summits involved in the fields of vehicle, retail, textile, footwear, IoT, New Science & Technology industry, etc.
We have served more than half of the Fortune 2,000 companies, and every year more than 6,000 delegates from multinational enterprises, specialized organizations and creative companies take part in our events, i.e. Daimler, GE, Adidas, Coca-Cola, Alibaba, ABB, etc.
We create value by building specialized communication & networking platform through our professional services, and eventually help our clients find more opportunities, better meet challenges and achieve sustainable development.
ADDRESS
Room 1010-1012 , Golden Building of 108 Hip icon, No. 11 Yujinggang road, Jingan District, Shanghai.TEL
+86 21 8026 0707-803Ciking Zhao
Email:cikingz@ecvinternational.comECV International is a leading organizer and contractor of high-end international business events in Asia, with nearly 200 professionals in industrial research and event planning & execution. Every year, we hold around 40 high-level international summits involved in the fields of vehicle, retail, textile, footwear, IoT, New Science & Technology industry, etc.
We have served more than half of the Fortune 2,000 companies, and every year more than 6,000 delegates from multinational enterprises, specialized organizations and creative companies take part in our events, i.e. Daimler, GE, Adidas, Coca-Cola, Alibaba, ABB, etc.
We create value by building specialized communication & networking platform through our professional services, and eventually help our clients find more opportunities, better meet challenges and achieve sustainable development.