Home / Knowledge / News / Apparel/Garments / Vietnam to take Czech route for trade with Eastern Europe
Vietnam to take Czech route for trade with Eastern Europe
25
Aug '15
Vietnamese apparel and footwear industry is looking for opportunities to re-enter Eastern Europe through the Czech Republic, the country's newspapers have reported.

Representatives of Hanoi apparel and footwear businesses met Czech entrepreneurs at a trade promotion workshop in Prague recently to pursue that goal and to boost bilateral trade with that country.

Director of the Hanoi Department of Industry and Trade Le Hong Thang said while opening the workshop that the textile and garment industry is currently the second biggest hard currency earner of Vietnam, raking in over $20.7 billion last year and $10.2 billion in the first half of 2015.

Hanoi earned $11 billion in total shipments in 2014, including roughly $1.6 billion worth of textile and garments. Exports of these commodities to the European Union generated $436 million, which encouraged Hanoi's apparel and footwear sector to participate in an international fashion fair in Brno city from August 22-24.

Thang said the Vietnamese delegation's visit to the Czech Republic was to seek import partners and material suppliers. He pointed out that companies in Hanoi imported more than $662.5 million of fabric, $125.6 million of fibre and $196 million of other materials last year.

Chairman of the Czech Republic-Vietnam Friendship Association Marcel Winter said Vietnam's economy has grown rapidly and dynamically in recent years and has vast cooperation potential. Vietnamese firms produce a number of goods that suit Czech consumer tastes and have demand for quality machinery from the East European country.

"In fact, Vietnam's economy has gained strong growth in recent years and now has great potential in developing further," Winter said. "Vietnamese enterprises have products with good quality for Czech customers, while they need imports of high-quality equipment and machines from Czech Republic."

Both Thang and Winter agreed that Hanoi apparel and footwear companies', as well as Vietnamese firms', return to traditional East European markets via the Czech Republic will benefit both countries.

In recent years, bilateral trade ties have seen positive growth but remain limited despite large potential.

Vietnam's main exports to the Czech Republic include coffee, pepper, fresh and dried fruits, peanuts, green tea, rice, rubber, seafood, footwear, textiles, handicraft products and computer spare parts while importing machinery, chemicals, dairy products, pharmaceuticals and plastics.

The Czech Republic considers Vietnam one of the 12 highest potential markets with trade touching $670 million in 2014. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 20th Feb 2020

An Industry Goes Viral

When the novel coronavirus, now called COVID-19, was first detected...

Pic: Shutterstock

Apparel/Garments | On 20th Feb 2020

Bangla garment accessories sector may lose Tk 1500 cr

Bangladesh's garments accessories and packaging sector may incur a...

Pic: freemind-production / Shutterstock.com

Retail | On 20th Feb 2020

Authentic Brands announces acquisition of Forever 21

Authentic Brands Group (ABG), a global brand development, marketing,...

Interviews View All

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Ian Burn,

Ian Burn

Camira's expertise goes from farm to fabric and everything in between. The ...

Ritu Ajbani & Neha Agarwal,

Ritu Ajbani & Neha Agarwal

Petit Royal, co-founded by entrepreneurs <b>Ritu Ajbani and Neha...

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

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

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

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

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

Leave your Comments


February 2020

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


Advanced Search