VN garment sector to boost export growth The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS). Truong Van Cam, VITAS vice chairman and general secretary, said many textile and garment companies had signed contracts to produce export products in the third quarter of this year. Many Vietnamese garment firms had also sustained high growth this year in traditional markets such as the United States, the Republic of Korea, the European Union, and member-states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Cam said a series of recently-signed free trade agreements (FTAs) was expected to boost the sector. Since 2001, Viet Nam had signed bilateral trade agreements with the US, Japan, China, and the Republic of Korea, as well as Australia, New Zealand, and India, and joined the World Trade Organisation. However, global demand for textiles … [Read more...] about BUSINESS IN BRIEF 6/6
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Joint Communiqué of the 49th ASEAN Foreign Ministers’ Meeting
The 49th ASEAN Foreign Ministers’ Meeting issued a Joint communiqué in Vientiane on July 24. The following is the full text of the joint communiqué. “JOINT COMMUNIQUÉ OF THE 49th ASEAN FOREIGN MINISTERS’ MEETING VIENTIANE, 24 JULY 2016 ‘TURNING VISION INTO REALITY FOR A DYNAMIC ASEAN COMMUNITY’ We, the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), met on 24 July 2016 at the 49th ASEAN Foreign Ministers’ Meeting (AMM) in Vientiane, Lao PDR, under the theme “Turning Vision into Reality for a Dynamic ASEAN Community”. His Excellency Saleumxay Kommasith, Minister of Foreign Affairs of Lao PDR, chaired the Meeting. ASEAN COMMUNITY BUILDING ASEAN Community Vision 2025 1. With the formal establishment of the ASEAN Community on 31 December 2015, we resolved to continue deepening and advancing ASEAN community building as well as regional integration. We reaffirmed our commitment to the full and … [Read more...] about Joint Communiqué of the 49th ASEAN Foreign Ministers’ Meeting
ASEAN Foreign Ministers issue Joint Communiqué
“JOINT COMMUNIQUÉ OF THE 49th ASEAN FOREIGN MINISTERS’ MEETING VIENTIANE, 24 JULY 2016 ‘TURNING VISION INTO REALITY FOR A DYNAMIC ASEAN COMMUNITY’ We, the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), met on 24 July 2016 at the 49th ASEAN Foreign Ministers’ Meeting (AMM) in Vientiane, Lao PDR, under the theme “Turning Vision into Reality for a Dynamic ASEAN Community”. His Excellency Saleumxay Kommasith, Minister of Foreign Affairs of Lao PDR, chaired the Meeting. ASEAN COMMUNITY BUILDING ASEAN Community Vision 2025 1. With the formal establishment of the ASEAN Community on 31 December 2015, we resolved to continue deepening and advancing ASEAN community building as well as regional integration. We reaffirmed our commitment to the full and effective implementation of the ASEAN Community Vision 2025 and the three new Blueprints which set out the future direction for a politically cohesive, economically … [Read more...] about ASEAN Foreign Ministers issue Joint Communiqué
Joint Communiqué of the 49th ASEAN Foreign Ministers’ Meeting
Foreign ministers at the ASEAN-Japan Ministerial Meeting as part of the 49th ASEAN Foreign Ministers' Meeting and related meetings (Photo: VNA) Vientiane (VNA) – The 49th ASEAN Foreign Ministers’ Meeting issued a Joint communiqué in Vientiane on July 24. The following is the full text of the joint communiqué. “JOINT COMMUNIQUÉ OF THE 49th ASEAN FOREIGN MINISTERS’ MEETING VIENTIANE, 24 JULY 2016 ‘TURNING VISION INTO REALITY FOR A DYNAMIC ASEAN COMMUNITY’ We, the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), met on 24 July 2016 at the 49th ASEAN Foreign Ministers’ Meeting (AMM) in Vientiane, Lao PDR, under the theme “Turning Vision into Reality for a Dynamic ASEAN Community”. His Excellency Saleumxay Kommasith, Minister of Foreign Affairs of Lao PDR, chaired the Meeting. ASEAN COMMUNITY BUILDING ASEAN Community Vision 2025 1. With the formal establishment of the ASEAN Community … [Read more...] about Joint Communiqué of the 49th ASEAN Foreign Ministers’ Meeting
BUSINESS IN BRIEF 11/1
Clothing and fashion exports to the US on the rise Though down from the 13.5% increase reported for August 2015, imports continued their upward trajectory reaching 2.69 billion square metre equivalents (SME), up from 2.56 billion SME for September of 2014, which is good news for the Vietnam apparel and textile industries. Despite rising wages and strong currency, China continues to be the largest exporter to the US, as no country can match China in terms of the size of its supply base, range of skills, quality levels, product variety and the completeness of its supply chain. However, keeping the potential Trans Pacific Partnership (TPP) benefits in mind, should the trade accord materialize, Vietnam’s clothing and textiles industries are increasingly receiving encouraging responses from the western buyers. Breaking the OTEXA figures down further, shipments from China – the largest supplier of apparel to the US – were up 1.48% to 1.32 billion SME, while nearest rival … [Read more...] about BUSINESS IN BRIEF 11/1