The Apparel Sourcing Paris, a leading European sourcing trade fair which was held in Paris from September 18-21, witnessed ten companies from the Vietnam Textile and Garment Association (VITAS) attending the event to seek trade partners.

According to a trade bureau of a Vietnamese Embassy in France, France is the Vietnamese weave industry’s fifth largest market place in EU. Vietnam creates favourable conditions for French investors to investigate opportunities with domestic businesses and offers them favoured policies like corporate income taxation cuts, material import taxation cuts and reduced land employing cost.

Cooperation and investment opportunities in the Vietnamese garment sector were introduced at a conference held by French non-profit Evalliance association, which was established in 2014 to connect the EU and Indochina in the industry.

A representative from Evalliance expressed admiration for Vietnam’s rapid garment growth and the country’s strategies to captivate investment.

On the occasion, a fashion show on the autumn-winter collection of Garment 10 Joint Stock Company, which specialises in office fashion, was held.

Pham Thi Bich Thuy, managing director of the company, said that the company has invested in modern production lines to improve product quality. The company won contracts with some large customers at the fai.

Vietnam is the sixth largest garment supplier for the EU with export revenue of 3 billion euros every year. According to experts, Vietnam-EU free trade agreement will allow Vietnam to consolidate its position as a leading exporter to the EU.

After the deal takes effect, 71 percent of Vietnamese exports to the EU will be duty free while other tax lines will be dropped in the following seven years. Currently, Vietnamese products are levied taxes from 8-12 percent in the EU. According to the deal, goods must have clear origin to enjoy preferential taxes.

Apparel Sourcing Paris fair is held twice each year in February and September, displayed finished products like knitwear, casual wear, sportswear, outerwear and corporate wear. Also information on the latest clothing trends are on display at booths and forums held at the fair.