German tech meets VN textile

	Brexit does not impact on public debt
	VN attracts over $11b FDI in first half of 2016
	Textile exports up 5.67%

Germany's latest textile and apparel technologies were introduced to local enterprises in Ha Noi on July 5. — VNA/VNS Photo.

The event, held by the by the VDMA Textile Machinery Association, supported by the Việt Nam Textile and Apparel Association (VITAS), provided an opportunity for companies to make contact, exchange information and establish a mutually beneficial co-operation, said Trương Văn Cẩm, VITAS deputy chairman.

German machinery is of high quality although its cost is high, said Cẩm.

“However, if Vietnamese textile enterprises want to develop modern technology, they should co-operate with high-technology providers to catch up with global quality and labour productivity," he added.

The deputy chairman also said that a considerable proportion of technologies in Việt Nam’s textile and apparel industry needed to be replaced to improve quality, especially those supplying cloth for export garment-making. “Due to the recently signed Trans-Pacific Partnership (TPP), Việt Nam is increasingly becoming a much preferred textile manufacturing location by companies worldwide,” explains Thomas Waldmann, managing director of the VDMA Textile Machinery Association.

TPP will reduce 18,000 tariffs. Việt Nam is almost a sole supplier of textiles among the TPP member countries and an important supplier of textiles and garment to big consumer markets like the US.

Textile and garment exports from Việt Nam to TPP markets are expected to grow by more than 10 per cent this year.

“Việt Nam is a very important market in the area of textile, there is a need for Vietnamese textile industry to invest to modernise the technology and machinery. German companies and VMAD member companies are leading in this area, and that is the reason we are here,” said Boris Abadjieff, director of Exhibition and Export Marketing under the VDMA.

Phí Ngọc Trịnh, deputy director of the Hồ Gươm Garment JSC, said the forum was a good opportunity for Vietnamese businesses as the country was integrating further and deeper into global markets with many trade agreements, including TPP, as well as the Việt Nam-EU free trade agreement.

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The VDMA Textile Machinery Association groups 130 companies manufacturing textile machines and equipment with a value of 3.1 billion EUR (US$3.46 billion) in 2015. A similar event will be held in HCM City on July 7.