Garment exports to Japan achieve considerable growth

Vietnam has recorded remarkable growth in exporting its garments and textiles to Japan despite a reduction in revenue from its major markets such as the US and the European Union as a result of the global economic recession.

According to the Vietnamese Trade Office in Japan, in the first two months of this year Vietnam earned US$138 million from garment and textile exports to Japan, up 27 percent compared to the same period last year.

The positive result was attributed to tax reductions following the signing of the Vietnam-Japan Economic Partnership Agreement (VJEPA) and the appreciation of the Japanese yen against the US dollar.

Vietnamese garment exporters are enjoying favourable conditions to penetrate the Japanese market thanks to their competitive advantages in product prices, which are lower than those of other foreign rivals, including China.

VOV

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