Trade Resources Industry Views Garco 10 Has Offered Tanzania The Opportunity to Export Unspecified Quantity of Cotton

Garco 10 Has Offered Tanzania The Opportunity to Export Unspecified Quantity of Cotton

Vietnam’s garment maker Garment 10 Corporation (Garco 10) has offered Tanzania the opportunity to export unspecified quantity of cotton to the firm, according to the president of the company Giang Duc Vu, Tanzania DailyNews reported.

The Hanoi-based garment maker is currently one of Vietnam’s foremost apparel companies.

Giang said Garco 10 imports cotton from the United States and India, but is also ready to import from Tanzania.

Giang assured Tanzanian President Jakaya Kikwete, who was on a two-day state visit to Vietnam, that he could also use his influence as chairman of Vietnam Textile and Garment Association (VITAS) to guarantee Tanzanian cotton market to feed Vietnam’s booming textile industry.

He said that besides maintaining close relationship with regular customers, Garco 10 is willing to set up new business and joint venture with all domestic and overseas partners for the sake of mutual benefit.

The vice-executive president of Vietnam Chamber of Commerce and Industry, Hoang Van Dung, stressed the need for the two countries to enhance trade and bilateral ties, with records indicating that last year trade turnover between them reached US$ 105 million.

Garco10, with an annual capacity of 30 million units, has 19 factories located in various parts of the Southeast Asian country, with the European Union, the US, and Japan as its major markets. Pierre Cardin, Burton, Ben Sherman, Zara, Van Heusen, DKNY and Camel are among the major world brands that Garco 10 does business with.

The textile and apparel industry plays a major role in increasing Vietnam’s prosperity. The Vietnamese textile industry, with more than 3,800 companies, is among the leading export revenue earners. State-owned enterprises make up just 0.5 per cent of Vietnam’s businesses; however, 75 per cent are joint stock or limited companies.

Vietnam ranks fifth worldwide in textile and apparel exports. The textile and clothing industry employs over 2 million people. (GK)

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Vietnam's Garco 10 Ready to Buy Tanzania's Cotton
Topics: Textile