Visitors to 15th Vietnam International Textile, Garment, and Apparel Accessories Industry Exhibition (Source: VNA)The 15th Vietnam International Textile, Garment, and Apparel Accessories Industry Exhibition kicked off in Ho Chi Minh City on October 21.
The four-day event features nearly 300 booths showcasing products of 125 businesses from 12 countries and territories, including Thailand, Singapore, Japan, the Republic of Korea and China’s Hong Kong.
Deputy head of the Ministry of Industry and Trade’s Trade Promotion Agency Bui Thi Thanh An said that the exhibition offers a chance for businesses and producers to meet and seek partners, thus helping intensify international cooperation and facilitate technology transfer and application.
It is also expected to increase the competitiveness of Vietnamese products as well as boost exports and the development of Vietnam’s garment and textile industry.
General Secretary of the Vietnam Cotton and Spinning Association Nguyen Hong Giang said that signed and pending free trade agreements (FTAs) will bring about numerous development opportunities for garment and textile firms.
If all FTAs with Japan, the Republic of Korea and the EU, and the Trans-Pacific Partnership come into effect, around 80 percent of Vietnamese garment and apparel products exported to the US, the EU, Japan and the RoK can benefit from tariff incentives.
However, opportunities are often coupled with challenges, including fiercer competition with foreign businesses, especially in terms of origin, he noted.
Therefore, the exhibition is expected to attract more foreign investments in building material plants in Vietnam.-VNA
