Vietnam expects its garment and textile exports to grow on average by 11.5% per year to 2020, maintaining steady growth. 

The Vietnam Textile and Apparel Association (Vitas) said at the group's annual Congress last week that the sector is expected to generate export revenue of US$27.5bn this year, up 11.3% on 2014. Next year its value is expected to reach $31bn, and by 2020 is expected to reach $45bn to $50bn. 

Speaking at the event, Le Tien Truong, general director of Vinatex, said most global economies have started to recover and develop following the world economic crisis. 

"Along with the national economy, Vietnam's textile and garment exports have overcome difficulties, and maintained steady growth and stability in the period from 2011 to 2015," he explained. 

In 2013, total export turnover of the sector surpassed $20bn, with growth nearly doubling compared to 2010 ($11.2bn). 

In the first nine months of 2015, garment and textile exports reached $20bn, up 10% over the same period of last year. Fabric exports, in particular, reached $746m, up 28.7% year-on-year, with fibre exports up 1.3% to $1.91bn. 

Tariffs for garments and textiles will reduce to zero from 18% following the Trans-Pacific Partnership (TPP), and to zero from an average 11% following the Vietnam-European Union Free Trade Agreement.

Vietnam garments and textiles were exported to 180 countries last year, with main markets including the US, the EU, Japan, and South Korea. The country is also actively exploiting the emerging markets of Australia and Russia.