Vietnam could obtain the garment export turnover of $10 billion this year, $900 million more than in 2008. According to Business Monitor International (BMI), a market surveyor, though Vietnam remains a medium-size garment producer, it has obtained satisfactory growth rates recently and is now 36th in the world in the added value brought about by the industry. Meanwhile, Vietnam has seen positive signs from new export markets, especially from Japan.

Among the 17 categories of products worth over $10 million Vietnam exports to Japan, 11 of them have seen increases in turnover. T-shirts, for example, have witnessed the increase of 161%, while dresses by 58% and kimonos 43%.

It is expected that the turnover of garments exported to Japan in 2009 will increase by 20% over 2008.  Moreover, Vietnam has new markets, including Egypt, Turkey and Eastern Europe. It has also got orders to export garment materials to China.

According to the Vietnam Textile and Apparel Association (VITAS), there has recently been an important event for Vietnam’s garment and fashion industry: The Asian Fashion Association has accepted Vietnam as the 6th member of the association

Vietnam’s membership in the most prestigious fashion association in Asia will help Vietnam’s fashion industry get more advantages in promoting trade.

In addition, the announcement that ASEAN’s three leading garment export countries, Vietnam, Indonesia and Thailand, may set up an alliance by the end of the year, means that Vietnam may be able to boost exports in the region and cut production costs.

Director General of the Vietnam National Textile and Garment Group (VINATEX) Vu Duc Giang said that garment export turnover was $4 billion in the first six months of the year, down by 4.7% from the same period of last year.

However, when the world’s garment demand decreased by 15%, Vietnam’s export decrease of 5% proves to be a satisfactory result.