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Our Bureau

Mumbai , Jan. 13

MR Arvind Poddar, President, the Federation of All India Textile Manufacturers Association (FAITMA) and Dr Josef A. Beckman, President, Confederation of the German Textile and Fashion Industry, have signed a memorandum of understanding at Dusseldorf to expand economic and trading relations between India and Germany.

The basic objective of the MoU is to improve bilateral trade and investments and promote partnership co-operation between Indian and German textile and clothing companies.

A press release states that the MoU is expected to boost direct investments, joint ventures and marketing partnerships. It also provides for the exchange of information on new developments in textile technology. The association has also concluded a cooperation agreement with Textination Germany. With this FAITMA becomes a strategic partner of the Internet portal of Textination. The portal is visited by buyers of textiles and clothing worldwide.

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