China will closely cooperate with the 5 Mekong countries including Vietnam especially in apparel and textile sectors. This was recently confirmed by China National Textile and Apparel Council (CNTAC).
The Council added that more efforts will be put with the intent to strengthen the integration of industrial chains including apparels, yarn and textile equipment.
Further on the same, Xu Yingxin, Vice President, CNTAC, said “Ever since the Lancang-Mekong cooperation mechanism was established, the import and export trade of textiles and garments between China and the 5 Mekong nations has seen steady growth with expanding scale of investment.”
Xu also said that going forward, the cooperation between China and the 5 Mekong nations will be more diversified with expansion and enhancement in high-end areas.
Last year, China’s import of apparels and textiles with 5 Mekong nations was US $ 29.7 billion, which is 9.6 per cent of China’s overall import and export volume of the sector.
It is important to mention here that earlier this year, many Chinese textile firms had come to Vietnam to relocate some of their supply chain to the country owing to China’s trade war with USA.