Italian textile machinery companies are keen to tap the rising demand in Vietnam. (Photo: wordpress.com)
Vietnam, which has emerged as an important manufacturing hub for the garments sector, has now received a further boost for developing its textile industry, through the free trade agreements recently signed with the European Union and United States, according to the Textile World newswire.
“In the face of these new scenarios, we’re expecting over the medium term a strong boost in demand for textile machinery by Vietnamese textile manufacturers,” said Raffaella Carabelli, president of the Association of Italian Textile Machinery Manufacturers (ACIMIT).
As many as 12 Italian machinery manufacturers including A. Piovan, Beta Machinery, Carù, Fadis, and Ferraro will participate in the Vietnam Saigon Textile and Garment Industry Expo (Saigontex), to be held in Ho Chi Minh City
from March 30 to April 2, 2016.
Vietnam ranks 8th among export markets for Italian textile machinery companies, with exports to Vietnam over the first nine months of 2015 increasing 53% year-on-year to EUR31 million.
Vietnam’s apparel exports reached 22.81 billion in 2015, representing a 9.1% increase from a year earlier, according to data of the General Department of Vietnam Customs.