Though Vietnam remains a big importer of textile feedstock and accessories from China, its rising exports to China is a promising sign, according to the Vietnam National Textile and Garment Group.
A textile plant belonging to the Viet Tien General Garment Joint Stock Company in HCM City (Photo cafef.vn)
HCM City (VNA) - Though Vietnamremains a big importer of textile feedstock and accessories from China, itsrising exports to China is a promising sign, according to the Vietnam NationalTextile and Garment Group.
Customs data shows imports from China in2017 were high at 9 billion USD, or 42.7 percent of all textile-relatedimports, and 12 percent higher than in 2016.
Vietnam often imports raw materials alsofrom the Republic of Korea and Taiwan. RoK products cost a fourth of Chineseproducts while Taiwanese products cost a fifth.
Last year, Vietnam’s imports from Chinaincluded over $6 billion worth of silk, 2 billion USD worth of leather and 800million USD worth of threads.
However, according to the Vietnam Textile& Apparel Association (Vitas), textile exports to China have been risingsteadily, going up from 2.2 billion USD in 2015 to 3.2 billion USD last year.Vitas expects the figure to continue rising.
Vitas said China’s imports of Vietnamesetextile products are not taxed because of the ASEAN – China Free Trade Areawhile imports from countries such as India and Pakistan incur a 3–5 percenttax.
China is one of Vietnam’s top five textileexport markets.
Since that country has the world’s largestpopulation, its market can be extensively segmented offering a greatopportunity for local textile products.
Vietnam’s textile and garment exports wereworth 31 billion USD last year. - VNA
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A textile plant belonging to the Viet Tien General Garment Joint Stock Company in HCM City (Photo cafef.vn) 
