Home / Knowledge / News / Textiles / China, Vietnam anticipate two-way trade at $60bn by 2015
China, Vietnam anticipate two-way trade at $60bn by 2015
15
Oct '13
Chinese Premier Li Keqiang and Vietnamese Prime Minister Tan Dung agreed to lift up the two-way trade value between the two countries to US$ 60 billion by 2015, while implementing practical solutions to keep trade balanced, during their talks in Ha Noi.
 
China is a major supplier of yarn and fabric for Vietnam’s flourishing apparel industry, while only a fraction of Vietnamese apparel exports make their way to the Chinese market.
 
With US$ 2.1 billion worth of exports, China continued to be the leading supplier of fabric to Vietnam during January-July 2013 period. China’s fabric exports to Vietnam increased by 26.45 percent compared to the corresponding period of last year, according to Vietnam Customs statistics.
 
Additionally, Vietnam has abundant and low-cost labour, which makes it attractive for Chinese investors. By August 2013, China had invested US$ 4.8 billion in 915 projects in various provinces and cities of Vietnam.
 
During the visit of the Chinese Premier, the two countries signed an agreement on opening trade promotion agencies in respective countries, and a memorandum of understanding on construction of a cross-border economic cooperation zone, among others.
 
The bilateral trade between China and Vietnam was US$ 41 billion in 2012, and the two-way trade is estimated to have grown at around 20 percent year-on-year during the first eight months of the current year.
 
The decision to boost bilateral trade between China and Vietnam assumes importance in view of Vietnam being one of the 12 countries currently negotiating the Trans-Pacific Partnership (TPP) agreement. The agreement would provide tax benefits to Vietnamese goods in the other TPP-member countries, including the US.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 29th Mar 2017

Indonesian garment exports to remain stable in 2017: API

Garment exports from Indonesia are likely to remain stable this year...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Myanmar CMP garment exports to touch $2.2bn in 2017

Cutting, making and packaging (CMP) garment exports from Myanmar are...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search