Home / Knowledge / News / Apparel/Garments / Vietnamese market officially opens to Lankan businesses
Vietnamese market officially opens to Lankan businesses
25
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 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Lynda Kelly
Suominen Corporation

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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