ECV International, a China-based event organising company, is all set to organise 6th Vietnam Textile Summit in Ho Chi Minh City, Vietnam on 21-22 January 2021.
The event was scheduled to be held in December this year previously but rising travelling concerns due to COVID-19 have shifted the event to next year.
It’s worth mentioning here that Vietnam’s textile and garment industry has clearly witnessed a fall in exports due to production-related difficulties, arising out of the COVID-19 pandemic.
Earlier, Vietnam’s Textile Association reported that 70 per cent of the country’s garment manufacturers started reducing shifts and rotating workers in March, while additional 10 per cent did the same in subsequent months of April and May.
The estimated loss in the company’s apparel and textile revenues was around US $ 508 million at the end of June 2020. According to statistics of Vietnam’s Customs Agency, the imports and exports of all textile and garment products fell drastically in the first quarter of 2020, while second quarter declined even worse, with some recovery in the third quarter.
However, what makes the hopes positive for the Vietnamese textile and apparel industry is the EVFTA which was ratified by Vietnam’s National Assembly in May this year and this is supposed to contribute hugely to the country’s textile and apparel exports.
The trade pundits predict that EVFTA will be Vietnam’s next big step in international economic integration since joining the World Trade Organization. The Ministry of Planning and Investment (MPI), Vietnam estimates that, by 2030, the EVFTA will increase Vietnamese exports to the European Union by 44 per cent.
The Ministry also forecasts an increase in the country’s economic growth by 7-8 per cent between 2029 and 2033. Besides, the rising US-China trade war tension will also have a huge impact on the Vietnam textile and apparel Industry, offering country an opportunity to serve as a counterpart to China and bringing Vietnam closer to the international economic integration.
Therefore, all this ever-changing global trade scenario makes it necessary for the industry players to know and learn the latest development in Vietnam from the aspects of the government officials, textile associations, international apparel retail brands, local garment manufacturers as well as NGOs.
The Textile Summit will incorporate discussions on the latest global trade issues which will make a huge impact on the Vietnam textile and apparel industry such as US-China trade war, COVID-19 impact on the country’s industry and its supply chain, apparel sourcing shifts under the new background, apparel digital transformation and its importance when comes to the trade uncertainty and so on.
Below are the highlights of the 6th Textile Summit in Vietnam:
- Outlook 2021 Under the Impact of COVID-19 Pandemic: New Challenges and Opportunities for Vietnam Textile and Apparel Industry
- Latest Analysis of China-US Trade War and How will it Affect the Development of Vietnam Textile and Apparel Industry
- “Made in Vietnam”: Deep Interpretation on the Latest Changes and Regulations of the Country of Origin
- Under the New Trade Environment, Deep Analysis of the Implementation of EVFTA’s Impact on the Big Landscape of Apparel Sourcing and Existing Regional Apparel Supply Chain
- What is happening to the Vietnam Textile and Apparel Manufacturing and How will the Factories Survive Amid-COVID-19?
- How will the COVID-19 Affect the Global Textile and Apparel Sourcing and How will Apparel Sourcing Strategy Shift in Asia Amid the Global Trade Tensions
- Empower and Re-imagine the Fashion Supply Chain with the Latest Smart Technology-led Solutions Amid-COVID-19
The attendees in the event will be top management and decision makers of the companies such as President, Vice-President, CEO, CXO, COO, Chief Procurement Officer, Sourcing VP, Technical Director, etc.
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