Vietnam Textile & Garment Exhibition (VTG) held in HCM City commenced yesterday and has attracted international exhibitors and buyers from over 15 countries.
Around 125 companies from all over the world have brought machinery for sewing, knitting, spinning, cutting and printing fabrics, processing fibres, and embroidering, garment accessories, dyes and other products in the exhibition.
These firms came from Taiwan, Hong Kong, India, Korea, Malaysia, Thailand, Turkey and other countries to display the products and services.
This Trade Show is a 4 day event and will end on 24th October which would be a significant event in the context of Viet Nam signing off on the Trans Pacific Partnership (TPP) and free trade agreements with Korea and the Customs Union of Russia, Belarus and Kazakhstan and the December inauguration of the ASEAN Economic Community.
Vietnam's garment exports to the US, EU, Japan, and Korea would enjoy preferential tariffs after all the agreements take effect, said Nguyen Hong Giang, general secretary of the Viet Nam Cotton and Spinning Association.
Nguyen further added that it would help exports of Vietnam to grow internationally and compete with other exporting countries.
In order to produce garments, Vietnam requires 8.5 billion metres of fabric per year but manufactures less than 3 billion metres, he said.
So, there is a need to increase the fabric production in Vietnam, said Nguyen.
He believes that this exhibition would help the producers to meet the textile machinery firms for the same.
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