Vietnam, being one of the most important sourcing destination, has become the favorite destination for the sourcing heads. The country is already a large supplier of apparel to US and EU and is expected to further grow in the coming years as the pending FTA with EU goes through mid of this year as expected by the authorities.This will bring numerous opportunities for the country to grow itself and play a much larger role as an international supplier of apparel globally. Vietnam has currently about 6,000 garment related companies that employ 2.5 million people and exported $28 billion worth of clothes in 2016. Vietnam is the 2nd largest exporter of apparel to the US behind China. Though the free trade agreement with the US and Vietnam (TPP) was chopped by President Trump but Vietnam is still able to produce for their US customers with a reasonably competitive price. From a labor cost perspective, Vietnam Garment Industry in 2017 is cheaper than China and Eastern Europe. Vietnam has signed many bilateral trade agreements with other countries including Russia recently which in long run benefits the local as well as the International Denim Supply Chain Partners.Vietnam has very favorable trade policies and the labor conditions are very stable as compared to other countries. In the latest Apparel Survey Report released by Mckinsey, Vietnam ranked in top 5 as the best sourcing destinations in the world.
The 3rd Edition of Vietnam show is scheduled to be held on June 27-28 at Riverside Palace, Ho Chi Minh City, Vietnam. The theme of the show would be ROCK N ROLL bringing into focus the important place that denim occupies in the rock and roll history. Top Denim Mills, Chemical & Dyeing Manufactures along with other supply chain partners will be participating from different parts of the globe including from Vietnam, India, Pakistan, China, Hongkong, Korea, Thailand, and Italy. To know more, visitwww.vmshow.denimsandjeans.com
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