Vietnam & South Korea Cooperate On Textile & Garment Sector
Vietnam and South Korea have signed a Memorandum of Understanding (MoU) to increase cooperation in the textile and garment sector.
A MoU was signed between the Vietnam Textile and Apparel Association (VITAS) and the Korea Federation of Textile Industries (KOFOTI) this week.
The signing ceremony took place on the sideline of ‘Preview in Seoul 2023’ a textile and fashion exhibition, which was held in Seoul from August 23-25.
The MoU is expected to strengthen strategic partnership in textile and garment sector of the two countries, especially on issues of sustainable development, digital transformation, and supply chains.
Vietnam’s high economic growth rate and people’s interest in Korean culture are constantly increasing and so this MoU will help Korean textile industry to penetrate the Vietnamese market.
“South Korea and Vietnam have been reliable partners in textile production, processing, and export for the past 30 years,” KOFOTI Chairman Choi Byung-oh said on the occasion.
“VITAS and KOFOTI will expand exchange of information and innovation technology and promote cooperation to take advantage of free trade agreements and attract investment,” VITAS President Vu Duc Giang also said.