The Korea Federation of Textile Industries (KOFOTI) and the Vietnam Textile and Apparel Association (VITAS) have signed a memorandum of understanding (MoU) to strengthen bilateral cooperation, the former announced recently in Seoul.
KOFOTI hopes that the strategic partnership between the textile and garment industries of both sides will be strengthened with the signing of the MoU, especially on issues of sustainable development, digital transformation and supply chains.
It is also expected to help South Korean businesses penetrate deeply into the Vietnamese market, a news agency reported. The signing ceremony took place within the framework of the textile exhibition ‘Preview in Seoul 2023’ organised between August 23 and 25.
VITAS president Vu Duc Giang said both sides will expand exchange of information and technology, promote cooperation to take advantage of the free trade agreements, and attract investment.
