The Việt Nam Trade Office in Indonesia has alerted Vietnamese businesses to possible trade sanctions on textiles and garments.
Indonesia’s textile industry is currently struggling, with a decline in export orders and factory closures leading to mass layoffs. Key sectors such as textiles, footwear, and electronics, which accounted for a significant portion of Việt Nam’s US $ 1.5 billion export turnover to Indonesia last year, are particularly at risk.
The competitive landscape includes strong contenders from China, Malaysia, and Việt Nam, making these products vulnerable to trade defence measures. The trade office believes that Indonesia may extend these measures beyond Chinese products to include those from Việt Nam and other countries.
In response to this potential threat, the trade office advises Vietnamese businesses and export associations to stay vigilant. They should monitor market developments closely and collaborate with the Ministry of Industry and Trade and the Việt Nam Trade Office in Indonesia to prepare for any sanctions.
This proactive approach is essential to mitigate the impact of possible trade barriers and ensure the continued success of Việt Nam’s export sectors in Indonesia.
