January 18, 2002

`19'

    Asia has become the major thrust of world textile industry. Nearly 60% of the world’s textile and garment output comes from Asia and ASEAN countries. The Vietnamese and Cambodia market for fabric is worth over one billion dollars. Textile segment constitutes the most important position next to oil and gas industry in Vietnam’s international business. During the last five years export turn over of the garments in Vietnam increased by 20% per year. The export turn over of textile and garment segment was of the order to US $ 1.9 billion contributing about 15% of the country’s merchandise exports in 2000. The export turn over of Vietnam’s Textile and Garment sector is likely to reach between US$ 4 to 5 billion by 2005.

    Garment export is the life line of Cambodian economy. The growth of exports has experienced four fold increase from US $ 157 million in 1996 to US $ 640 million in 1999.

    For exploring new avenues for export in Vietnam and Cambodia, NITRA in collaboration with Protech India Ltd., prepared a Report "The Market for Fabrics in Vietnam & Cambodia 2002" which was released by Minister of Textiles, Shri Kashi Ram Rana in New Delhi yesterday. The study report includes – country profile, structure & status of Textile Industry, import and export scenario, market for accessories, import tariff structure, regulatory practices and the future prospect of Textile Industry in Vietnam and Cambodia.

    In order to meet the challenging target of US$ 50 billion for the textile export by 2010, there is need of rapid expansion of the markets. Therefore, accurate information about the markets in order to understand its requirement is necessary so that the exporters can prepare themselves according to the demands. The Textile Minister assured the exporters of all possible assistance to carry out similar studies in the South American markets also.