Australian Wool Innovation (AWI) has stated that it is in discussions with three Vietnamese companies and six foreign firms about the possibility of establishing a wool weaving factory in the Southeast Asian country.

Vietnamese producers are now importing wool yarn from China , India , Italy and Germany . Experts predict that domestic processing will help save import costs and time.

AWI is making efforts to intensify connections with Vietnamese businesses to help them access its natural wool products as well as Australia ’s wool and yarn processing technologies.

It considers this move as a solution to reduce Australia ’s dependence on the Chinese market as 75 percent of its wool is now exported to China.-VNA