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.