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Related Keywords: AGTEK, attracted to Vietnam, challenges and risks, despends on imported raw material, global market, HCM City Association of Garment Textile Embroidery and Knitting, join hands, low labour cost, many foreign investors, Recent signing of FTAs, supply chain, transform fabric to garment, TUV SUD, value addition, Vietnamese companies

After the recent signing of FTA’s, many foreign investors have been attracted to Vietnam according to the chairman of the HCM City Association of Garment Textile Embroidery and Knitting. But the FTAs not only bring opportunities but also challenges and risks for Vietnamese companies.

Việtnam depends on imported raw materials from China, Korea and Taiwan, and the sector does not create much value addition in the supply chain since it merely does low value-added work such as cut-make-trim services to transform fabric into garments to export.

Related Keywords: access global markets, AGTEK, awareness programme, coorganize quality and safety workshops, free trade business landscape, in-depth understanding of stringent international quality, safety standards, sign MoU, take VN textile companies to next level, TUD SUD

TUV SUD, global testing, certification, inspection and training provider dedicated to adding tangible economic value to its customers has inked a deal with the HCM City Association of Garment Textile Embroidery and Knitting (AGTEK). The agreement is expected to immensely benefits its members to take their business to the next level and access global markets. A memorandum of understanding (MOU) was signed between the two sides yesterday.

Related Keywords: AGTEK, due to limitations in capital, foreign investment continue increasing, India to include part of its investment, local small size firm, not fulfill requested orders, projects to manufacture textile and garment materials, take advantage of TPP, Vietnam textile and garment market, Vitas, Wave of merger and acquisition on rise

Vietnam has issued investment licences for 30 textile and garment projects in 2015 while foreign investment in industry was expected to continue increasing in the near future. A wave of mergers and acquisition has increased in the local garment and textile industry in a bid to take advantage of free trade agreements, especially the Trans Pacific Partnership (TPP), as the local enterprises are aware that they would not fulfill requested orders due to their limitations in capital, according to the HCM City Association of Garment - Textile - Embroidery - Knitting (AGTEK).

Related Keywords: AGTEK, domestic and international supplier, equipment and technologies, garment and textile export, Taiwan Association of Machinery Industry, textiles and garments industries, VGT 2014, Vietnam International Garment and Textile Exhibition

The Vietnam International Garment and Textile Exhibition 2014 (VGT 2014) the 14th edition of this kind ever held in the country kicked off here on Wednesday, VTG 2014 is expected to be an exclusive business platform for domestic and international quality suppliers of textiles and garments industries.