Vietnam

Vietnam has overtaken China as the largest market for South Korean textile exports, according to a new report from the Korea Institute for Industrial Economics and Trade. Between January and May, Vietnam purchased 16.5% of all South Korean textile exports, compared to China which purchased 15.6%. The report does note, however, that significant growth opportunities still exist for exports to China.(Fibre2Fashion)

The Vietnam National Textile and Garment Group (Vinatex) says it is working on a plan to build a factory in Moscow, Russia. The plans were announced after a meeting between Vinatex officials and investment representatives in the Moscow region. Vinatex is also on track to become one of the top ten largest textile and garment companies in the world by next year.(Fibre2Fashion)