Home / Knowledge / News / Apparel/Garments / Vietnamese market officially opens to Lankan businesses
Vietnamese market officially opens to Lankan businesses
Sep '14
Mr. Bathiudeen (L) with Ms. Thu Hang
Mr. Bathiudeen (L) with Ms. Thu Hang
Vietnam, the largest economy and the market in the ‘New Asean’ (comprising Vietnam, Cambodia, Laos and Myanmar), has announced that its business sector is officially ready for wider engagement with Sri Lankan businesses and hinted that it’s time for establishment of a Vietnam-Sri Lanka Business Council in Vietnam, according to a statement from the Sri Lankan Ministry of Industry and Commerce.
Vietnam’s decision follows the decision of appointing the first Sri Lankan trade official to Vietnam.
Last month, Rishad Bathiudeen, Sri Lanka’s Minister of Industry and Commerce, led an official delegation and met Ms. Pham Thi Thu Hang, secretary general of the Vietnam Chamber of Commerce and Industry (VCCI), Hanoi.
During the meeting, Ms. Thu Hang said there is lot of business potential for bilateral trade and for Lankan manufacturers, especially, for apparel manufacturers, since the apparel sector is the largest foreign exchange earner for Vietnam.
“The proposed Trans-Pacific Partnership (TPP) agreement, which includes Vietnam and some top global trade economies, will open great opportunities for Vietnamese exporters and for Lankan businesses, and there are great indirect benefits from Vietnam TPP if they choose to invest here,” Ms. Thu Hang said.
She welcomed Sri Lankan businesses to promote their businesses in Vietnam, and added that the VCCI Chamber will establish the identity of current Vietnam-Sri Lanka business dealings and would take steps to establish a Vietnam-Sri Lanka Business Council in Vietnam.
Minister Bathiudeen, apprised the VCCI secretary general that both Vietnam and Sri Lanka have agreed to increase bilateral trade to US$ 1 billion. He sought VCCI’s assistance in working towards the goal of achieving $1 billion target.
Despite the absence of a formal mechanism, trade increases have been observed between both countries, and now a Joint Trade Committee has been set up to bridge the trade gap and increase trade volumes, the Ministry said. (RKS)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search