Price-is-right Vietnam aims for 10pc apparel-textile export boost by 2020

VIETNAM's textile clothing exporters aim for an increased export revenue target of US$20 billion to $22 billion by 2020 from 2011's $15.8 billion aided by returning demand from its two core markets of the US and Europe.

The country's boost in foreign direct investment supports its aim of making the global top-five clothing and manufacturing and exporting countries built on added-value which increased within a six year period since 2005 from 30.2 per cent to 47.8 per cent, reports the UK's Textiles Intelligence.

Its growing numbers of foreign trade agreements (FTAs), one with the EU at negotiation stage, and a sealed bilateral agreement with Israel, supports such expansion.

It is part of Trans-Pacific Partnership discussions for free trade relations between 11 Pacific Rim nations on four continents and part of the ASEAN bloc, a wider ASEAN-China agreement, and ASEAN partnerships with Australia, New Zealand, India, Japan and South Korea.