Garment industry moves to weather possible Brexit influence
Vietnam’s garment-textile industry has already taking possible Brexit influence into accounts while conjuring up measures to weather its possible negative impacts. Vietnam’s garment exports to the EU account for approximately 20 percent of the total volume with the UK contributing around 4 percent. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association, said Brexit will definitely have impacts on garment and textile exporters due to the devaluation of the pound and the euro, which influence prices. The purchase power of British and European consumers will change as well, said Giang.
