Vietnam, Bangladesh Ink Garment & Textile Ties

Vietnam and Bangladesh have vowed to strengthen cooperation in the field of garments and textiles in the coming time, according to State media.

 

Chairman of the Bangladesh Chamber of Commerce and Industry Dhaka told his Vietnamese counterpart that the two countries should help enterprises of the two garment and textiles industries exploit their completive advantages.

 

Garments and textiles now contributes 5 per cent to the GDP value in Bangladesh and have always one of Vietnam’s key export items.

 

In the fourth quarter of last year, the Vietnam Garment and Textile Association and the Bangladesh Association of Garment and Textile Factories signed a cooperative agreement.

 

In February of this year Vietnam and Bangladesh also reached a cooperative agreement in Hanoi to boost economic, trade and science cooperation after the first meeting of the joint Vietnam-Bangladesh economic committee.

 

In 2005, Vietnam earned US$22.3 million from shipping textiles and fibers, computers, electronics and farm produces to Bangladesh and spent US$31.7 million on importing materials for the garment, textile and footwear industries, and urea fertilizer from Bangladesh. The two-way trade value increased from US$19.3 million in 2001.