(VOVworld) - Vietnam’s textile and garment industry has taken a giant leap forward, growing at an average rate of 22 percent each year since the country became a member of the World Trade Organization (WTO). In addition to expanding its export markets, the sector saw 485 FDI projects going into operation, for over 2 billion dollars from 2007 to 2012. Textile and garment exports reached more than 9 billion dollars in the first seven months of this year, up nearly 8 percent from the same period last year, and accounting for 16 percent of the country’s total export value.

Vietnam is now the second largest exporter of apparel to the US, the third largest to Japan, and the fifth largest to the EU.