Vietnam's garment and textile export turnover is expected to reach 19 billion USD this year, 1 billion USD higher than the set target.
According to the Ministry of Industry and Trade, the January-October figure is 14.8 billion USD, representing a year-on-year increase of 18.7 percent.
The Republic of Korea, the US and Japan are the biggest importers of Vietnamese products, posting growth rates of 68 percent, 37 percent and 35 per cent, respectively, against the same period last year.
Local textile and garment companies are anticipating the success of the Trans-Pacific Partnership (TPP) negotiations, which would promote export turnover to several markets, especially the US, thanks to zero export duties.
Industry insiders said participation in the agreement would create favourable conditions to boost Vietnam's textile and garment sector as the third key industry of the country.