The Vietnamese Ministry of Industry and Trade (MoIT) said Vietnam’s textile and garment exports have faced declines in recent times, also due to European Union (EU) regulations, which insist on producing them more sustainably.
“In the first seven months of 2023, Vietnamese textile and garment exports dropped 15.1 percent year on year,” media reports indicated.
MoIT attributed this decline, particularly to the EU Strategy for Sustainable and Circular Textiles, which could be having an impact on consumption patterns in the 27 member countries of the EU.
The ministry said the Vietnamese industry needs to address the EU challenge as well as the Carbon Border Adjustment Mechanism, by introducing sustainable means of production and in the process making the industry less carbon-intensive.
“The shift towards sustainable production practices will help lessen the impact of these regulations on the country’s textile and garment exports,” MoiT informed.
The ministry also urged the textile and garment industry to explore alternative export markets to reduce the impact of the slowdown in the US and EU markets.
“In the first seven months of 2023, Vietnamese textile and garment exports dropped 15.1 percent year on year,” media reports indicated.
MoIT attributed this decline, particularly to the EU Strategy for Sustainable and Circular Textiles, which could be having an impact on consumption patterns in the 27 member countries of the EU.
The ministry said the Vietnamese industry needs to address the EU challenge as well as the Carbon Border Adjustment Mechanism, by introducing sustainable means of production and in the process making the industry less carbon-intensive.
“The shift towards sustainable production practices will help lessen the impact of these regulations on the country’s textile and garment exports,” MoiT informed.
The ministry also urged the textile and garment industry to explore alternative export markets to reduce the impact of the slowdown in the US and EU markets.