Australia, Vietnam increase cooperation in wool sector

Illustrative image (Source: Internet)

The Australian Wool Growers Association (AWGA) expressed its desire to boost cooperation with Vietnam to introduce its wool products to Vietnamese consumers.

The association said it could provide technological and training assistance to Vietnamese companies as well at a recent working session with the Local Industry Department under Vietnam’s Ministry of Industry and Trade.

According to Rajesh Bahl from the AWGA, Australia accounts for 22 percent of the world’s wool production, and up to 90 percent of global merino output.

Bahl said Vietnam’s textile industry had a great potential with favourable conditions, especially when the Trans-Pacific Partnership is nearing completion and Vietnam has signed many free trade agreements.

The AWGA first entered in Vietnam in 2012 and now has 90 partners across the country.

Phan Van Ban, deputy head of the department, said the textile industry is one of the biggest industries in Vietnam with 1.1 million labourers and produces an export value of 23 billion USD in 2014.

The country, however, has to import up to 60 percent of input materials because of the weak support industry, said Ban.

The Vietnamese government is making efforts to reform administrative procedures to boost foreign investment in this field, he added.-VNA