Business

Cotton Day connects Vietnam, US firms

The Vietnam Textile & Apparel Association (VITAS) and the US Cotton Council International (CCI) recently held the Cotton Day in Ho Chi Minh City to help Vietnamese apparel businesses to approach the US market.
Cotton Day connects Vietnam, US firms ảnh 1Vietnam earned 19.8 billion USD from exporting garment-textiles in the first eight months of 2017, a year-on-year rise of 9.9 percent (Photo: VNA)

Hanoi (VNA) – The Vietnam Textile & ApparelAssociation (VITAS) and the US Cotton Council International (CCI) recently heldthe Cotton Day in Ho Chi Minh City to help Vietnamese apparel businesses to approachthe US market.

The event created an opportunity for US firms to evaluate thepotential of the spinning and textile industry in Vietnam, according to VITAS PresidentVu Duc Giang.

[Apparel exports predicted to hit 30.5 billion USD]

He expected US businesses to propose policiesfor the US government to support the spinning and textile industry in Vietnam,especially in establishing cotton bonded warehouses in Ho Chi Minh City and thenorthern port city of Hai Phong, which will help Vietnam access US high-qualitycotton products.

According to VITAS, Vietnam earned 19.8 billionUSD from exporting garment-textiles in the first eight months of 2017, ayear-on-year rise of 9.9 percent. Thesector hopes to rake in about 30.5 billion USD in export turnover in 2017.

Vietnam’s cotton imports surged over the past 10years from 150,000 tonnes in 2005 to about 1.2 million tonnes in 2016, with UScotton making up a large proportion.

In the first seven months of 2017, Vietnamimported 808,000 tonnes of cotton worth 1.47 billion USD, year-on-year rises of32.6 percent and 58 percent respectively. The US accounted for 60 percent ofthe market share.

The CCI granted licenses to 12 Vietnamese businesses usingthe COTTON USA ™ label to pave the way for apparel exports to the US and helpcustomers recognise high-quality products.-VNA

VNA
#Vietnam Textile & Apparel Association #VITAS #US Cotton Council International #CCI #Cotton Day #Ho Chi Minh City #Vietnam #US #apparel businesses #US market #cotton bonded warehouses #high-quality cotton products #market share #COTTON USA ™ label United States Vietnam
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