Vietnamese garment firms plan to boost exports to Canada
As Vietnam is yet to sign a free trade agreement with Canada, so the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will help it boost textile-garment shipments to Canada and the North American market in future, according to Le Tien Truong, director general of the Vietnam National Textile and Garment Group (Vinatex).
Canada imports nearly $13.3 billion worth of textiles and apparel each year, out of which Vietnamese exports are $ 550 million, according to a news agency report.
Both Vietnam and Canada are members of the CPTPP, which also has nine other countries.
Vinatex recently sent a business delegation to Canada to explore the potential for cooperation with Canadian importers.
Phong Phu International JSC said through its direct meetings with Canadian businesses, it has succeeded in implementing the original design manufacturer (ODM) production model and the company now only needs one to 1.5 days to create new product models, instead of the earlier two months. The time needed to bring a new product to the market has also been reduced from eight weeks to two weeks, it said.
Hanosimex, which introduced 40 knitting products and cotton towels to Canadian partners, said to optimise the CPTPP advantages, it will step up capitalising on material supply sources to satisfy the ‘yarn forward’ rule of origin. It will also seek more suppliers in Vietnam or other CPTPP members to diversify products, and build flexible production models to meet orders with different requirements. (DS
Fibre2Fashion News Desk – India