Ok so I have figured it out! Thanks a lot!

:) Thanks a lot. I see I did not explained my problem well.. So everything is in vectors and I want to have the transparent area only outside of the red line (which should copy the shape of the orange line to the orange line and have a nice rounded shape around the text). Everything inside the area ...

Hello everyone. I need a quick help with making png transparent image in the attachment. What I want is to have the transparent area tightly attached outside of the line and the text and the inside of the the two objects should have white background. Any idea how to achieve this? Thanks a lot in adv...