Vietnam Expands Cotton Planting Area To Improve Textile Self-Restraint Rate

In September 2014, Vietnam's textile and garment exports amounted to about $1 billion 900 million, down 11.4% from August.

In the first 9 months of this year, Vietnam's textile and garment exports amounted to about US $15 billion 510 million, up 18.9% from the same period last year.

Vietnamese textiles and textiles

The main export markets include the United States, the European Union, Japan and South Korea. The export volume of these countries accounts for 85.3% of Vietnam's textile and garment exports.

2015 Vietnam

The export target of garments is 190 to 19 billion 500 million dollars, and the target in 2020 is 250 to 27 billion dollars.

To achieve these goals,

A number of textile industry development plans are being launched, including the production of 1 billion meters of cloth to facilitate export, expand the area of cotton planting, improve self-control rate and promote the development of human resources in textile industry.

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Li Zhiliang, Vice Minister of the Ministry of international trade and industry of Malaysia, pointed out that the export volume of textiles in Malaysia in the first half of this year (2014) was 5 billion 800 million MA (about 1 billion 782 million US dollars), which grew by 20.8% over the same period (2013), and the main export products were textile yarns, garments and fabrics.

The main export markets were the United States, Japan, mainland China, territories and Singapore, with an import volume of 4 billion 200 million Ma, which grew by 13.5% over the same period last year. The main imports were textiles and garments, and the main source of imports was China, Indonesia, Vietnam, Taiwan and Thailand.

Malaysia's textile exports amounted to 10 billion 200 million Malaysian dollars last year and its imports amounted to 7 billion 700 million ma.

Ma's textile production index reached 108.8 points in the first half of this year, up 12.7% from the same period last year, indicating that the textile and garment industry has been restored to normal and expanded trend by the economic recovery.

Vice Minister Li continued that the Malaysia textile and garment industry had no longer enjoyed the EU general preferential system since January 1st of this year. However, the Malaysia Turkey free trade agreement can still be used to export products to the European Union for tax preferences.

On the other hand, Zheng Wentian, President of the General Chamber of Commerce of the Malaysia clothing department store, pointed out that the recent weakness of the Malaysian currency has directly impacted on the import and export business of the textile and garment industry in the country. In addition, the 6% consumption tax will be implemented in Ming (2015) April 1st, resulting in a weakening of the purchasing power of consumers, a decrease in the sales volume of the operators, and some manufacturers facing the cash flow dilemma.

The canal appeals to the Malaysia government to sympathize with the public, such as arranging the financing of small and medium sized enterprises to help the industry bail out.

President Zheng called on the Malaysia government to cancel the import tariff of cloth garments, so as to reduce the cost of doing business and sell cheap goods, so as to attract tourists to purchase, in addition to earning foreign exchange, it also promotes the development of tourism.