ASEAN, China, Hong Kong cooperate for first time in textile industry
The China National Textile and Apparel Council, the ASEAN Federation of Textile Industries (AFTEX), the Textile Council of Hong Kong (China), and the Hong Kong General Chamber of Textiles (HKGCOT) signed their first memorandum of understanding on cooperation at a ceremony in Hong Kong on March 21.
Hong Kong (VNA) - The China National Textile and Apparel Council, theASEAN Federation of Textile Industries (AFTEX), the Textile Council of HongKong (China), and the Hong Kong General Chamber of Textiles (HKGCOT) signed their first memorandum of understanding on cooperation at a ceremonyin Hong Kong on March 21.
Speaking at the event, Financial Secretaryof Hong Kong Paul Chan said ASEAN has become Hong Kong's second largest exportmarket after China. This is reshaping the industry division and supply chainlayout between ASEAN, China and Hong Kong.
Hong Kong hopes to create values forenterprises and manufacturers in cross-border business by focusing on providingefficient trade, expertise, logistics as well as other added value services, headded.
AFTEX Chairman Albert Tan said that Chinais the largest trading partner of the ASEAN textile industry, and manycountries depend on China's textile exports and wish to cooperate with thiscountry and Hong Kong.
According to him, ASEAN can cooperate withChina and Hong Kong in innovation and technology to improve productivity, whileChina and Hong Kong can also promote export markets in ASEAN.
The signing of the MoU is an important milestone, which will further promote trilateralcooperation in the fields of trade, industrial development, informationexchange and many other fields, he stated./.
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Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
Illustrative image (Photo: VNA) 
