The 7th Vietnam Textile Summit 2021

Since it first emerged in early 2020, Covid-19 has been the single biggest challenge facing the apparel industry, resulting in significant order cancellations, factory shutdowns and supply chain disruptions. Yet it is showing signs of recovery. According to the World Bank’s global garment of textile market report, the total global garment and textile demand is expected to increase from $594 billion in 2020 to $654 billion in 2021, up 10.1 percent over the same period. Of which, the textile and apparel import turnover of the US –the major export market of Vietnam’s garments and textiles – will surge 20 percent over the same period, to $115 billion. As a popular alternative to “Made in China,” Vietnam is one of the few sourcing destinations that can offer a relatively balanced sourcing solution against all the primary sourcing criteria, from sourcing cost, speed to market and flexibility to social and environmental compliance. By leveraging its membership in several mega free trade agreements, Vietnam is also one of the very few first-tier apparel suppliers that enjoy duty-free access to more than half of the world’s apparel import markets. This includes the EU (through the EU-Vietnam Free Trade Agreement) and Japan (CPTPP). Recently, the US Department of the Treasury dropped Vietnam from its list of currency manipulators, a move that could reassure that the US might not impose new tariffs, quotas or other restrictions on Vietnamese imports as part of its Section 301 investigation. The duty-saving benefits offer “Made in Vietnam” apparel a unique competitive edge as fashion companies and consumers become more price-sensitive during the pandemic.This summit will focus on the latest global trade issues which will make a huge impact on the Vietnam textile and apparel industry like China-US trade wars, COVID-19’s impact on Vietnam textile and apparel industry and its supply chain, trade uncertainty, apparel sourcing shifts under the new background, apparel digital transformation, sustainable development and its importance when comes to the labour. Also for international brands who want to enter Vietnam domestic market.

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• Agenda