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Vietnam, Korean textile associations sign agreement
22 Mar '13
1 min read
Textile associations of Vietnam and South Korea have signed an agreement aimed at furthering cooperation and effectively gaining from the ASEAN-Korea Free Trade Area (AKFTA).
The agreement was signed by the Vietnam Textile and Apparel Association (VITAS) and South Korea’s Daegu Gyeongbuk Textile Industries Association (DGTIA).
As per the deal, VITAS and DGTIA would help textile companies from both countries to exchange information related to trade fairs and exhibitions and other trade promotional events.
The associations would also help companies to penetrate in each other’s markets.
Lowering of trade barriers under AKFTA is predicted to lead the intra-trade and investment between Asean and South Korea to rise to US$ 150 billion by 2015.
Fibre2fashion News Desk - India
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