HANOI: The Vietnam Garment and Textile Association and Taiwan Textile Federation has signed a textile and garment co-operation agreement, said president of Vitas Le Quoc An to our sources on December 28. Due to its deal with Taiwan textile industry, country's textile and garment industry has set its eyes on future expansion.
As per the agreement, the two sides will improve their co-operation in the textile and garment industry with Taiwan, which assists Vietnam to improve its expertise in fashion design and further helps to develop textile trademarks, and broaden the industry's distribution network
Especially in the textile and garment sector, Taiwan has ranked first among Vietnam's foreign investors, for last 5 years. In return, the Taiwanese side said that Vietnam has become a major exporter of fiber and fabric products to Taiwan.
Industry has set a target of $5.5 billion for 2006 compare to current years $4.8 billion, which is nation's second highest export turnover. The three main areas for garment and textile production and export are Asia, where Chinese, Indian, Indonesian and Pakistani markets are the strongest, along with the Caribbean and Central and South America.
