HCM CITY — Viet Nam's textile and garment exports saw growth of 32 per cent during the 2005-11 period, the fastest growth rate for this sector anywhere around the world, according to a recent survey.
The information was released at a conference in HCM City on Saturday by Dhyana Van der Pols, a consultant for the Centre for the Promotion of Imports from Developing Countries (CBI) under the Dutch Ministry of Foreign Affairs.
China came next in the rankings with a growth of 15 per cent, followed by India with 10 per cent and Turkey, Malaysia and Thailand with 7 per cent each.
The sector's fast growth in Viet Nam is attributable to the country's political stability and low labour costs, said Dhyana Van der Pols.
She said that although Viet Nam is not in the top 10 textile and garment exporters to the European Union, a future free-trade agreement (FTA) between the two sides is expected to open new opportunities for Viet Nam to increase its exports to the world's largest apparel consumer.
The conference, themed "Competitiveness of Viet Nam's Textile Industry: Perspectives in the Eyes of International Experts", was co-organised by the CBI and the Vinatex. — VNS