Business

Vietnam Australia’s largest cotton importer: Authority

Vietnam is the largest cotton importer of Australia with 38.8% of the market share, according to the Australian Trade and Investment Commission (Austrade) which predicted that Vietnam will hold this position in following years.
Vietnam Australia’s largest cotton importer: Authority ảnh 1Vietnam is the largest cotton importer of Australia. Illustrative image (Source: VNA)
Hanoi (VNA) – Vietnam is the largest cotton importerof Australia with 38.8% of the market share, according to the Australian Tradeand Investment Commission (Austrade) which predicted that Vietnam will hold this position in following years.

Thanks to a number of multilateral free trade agreements, tradebetween Vietnam and Australia has increased in recently, reaching 15.7 billionUSD in 2022, making Australia the seventh trade partner of Vietnam. Of thetotal, Vietnam’s exports hit 5.6 billion USD, up 26.2% year on year.

A report from the Vietnam Textile and Garment Group (Vinatex) said that last year, Vietnam shipped 44.5 billion USD worth of garment and textileproducts abroad, a rise of about 11% year on year, becoming the thirdlargest exporter of the product in the world after China and Bangladesh.

Along with garments, the country also exported over 2.5 billionUSD worth of fabric, nearly 5 billion USD worth of yarn, and 1.5 billion USDworth of garment accessories in the year.

In 2022, Vietnam spent 3.3 billion USD on importing 1.7million tonnes of cotton from 11 countries, with Australia standing at thethird position.

According to Austrade, Vietnam’s cotton imports fromAustralia rose from 78 million AUD (50.76 million USD) in 2020 to 1.69 billionAUD in 2022, mostly thanks to competitive prices and geographicaldistance.

Data from the Ministry of Industry and Trade showed that Vietnamand Australia are members of at least three common free trade agreements(FTAs), including the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP). The pact has helped promote Vietnam’s exports toAustralia, especially farm produce.

Currently, the three FTAs supporting Australia’s cotton exports toVietnam are the ASEAN-Australia, New Zealand FTA (AANZFTA), the CPTPP and the RegionalComprehensive Economic Partnership (RCEP). They enable Australia’s raw cottons toenjoy preferential tax rates in Vietnam.

Rob Cairns, Export Marketing Consultant of the Australian Cotton Shippers Association (ACSA), saidthat the Australian industry wishes to build deeper relations with the localtextile and apparel industry as demand is anticipated to grow in the comingyears./.
VNA
#Australia #Australian Trade and Investment Commission (Austrade) #free trade agreements #Vinatex #Vietnam #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

Garment industry advised to switch to green production

Garment industry advised to switch to green production

It is necessary for domestic enterprises to switch to green textile and garment production in an effort to achieve sustainable development goals and cope with the gradual loss of Vietnam’s cost advantage, insiders have said.

See more

Illustrative image (Photo: VNA)

Vietnam consolidates position as one of Asia’s economic bright spots

Next year, Vietnam is expected not only to maintain a high growth rate relative to the region but also to further reinforce its status as one of Asia’s economic bright spots thanks to macroeconomic stability, a dynamic domestic market, and a clear orientation towards attracting strategic investments.

Many vessels have installed additional vessel monitoring systems to ensure uninterrupted information connectivity with shore-based stations during fishing trips. (Photo: VNA)

Decisive moment of fight against IUU fishing violations

Under the close direction of the Prime Minister, coastal localities nationwide, particularly in central Vietnam, are urgently implementing assigned tasks with clear schedules and milestones, delivering tangible weekly progress.

Prime Minister Pham Minh Chinh speaks at the 26th meeting of the National Steering Committee for Combating Illegal, Unreported and Unregulated (IUU) Fishing. (Photo: VNA)

Local leaders must be held accountable for IUU fishing violations: PM

PM Chinh requested the Government Inspectorate to promptly identify localities that lack determination or fail to handle violations thoroughly, including cases where vessels not meeting legal requirements are still allowed to leave ports, and to clarify responsibilities and impose sanctions without delay.

The ribbon-cutting ceremony marking the export of C.P. Vietnam's first container shipment to Singapore. (Photo: VNA)

C.P. Vietnam exports first processed chicken batch to Singapore

The CPV Food Binh Phuoc plant operates a closed-loop system and holds international certifications, including HACCP, BRC, ISO 22000, and Halal. Before reaching Singapore, the company’s processed chicken was already exported to Japan, Hong Kong (China), Cambodia, and Laos, with Japan alone importing 10,000 tonnes by November 2025.

Delegates visit a booth at the exhibition (Photo: VNA)

HanoiTex & HanoiFabric 2025 kicks off

Running until December 18, HanoiTex & HanoiFabric is expected to contribute to sustainable development and stronger international integration of Vietnam’s textile and garment industry.

The thematic session on finance and banking of the Viet­nam Eco­nomy in 2025 and Pro­spects in 2026 Forum (VEPF). (Photo: VNA)

Vietnam economic forum 2025: balancing high growth and sustainability

At the thematic session on finance and banking, delegates focused on solutions for financial resources and eco­nomic growth tar­gets in the 2026-2030 period. The effective mobilisation of financial resources was identified as a key prerequisite for Vietnam to realise its target of double-digit economic growth during this phase.

Local residents and visitors tour and shop at a fair. (Photo: VNA)

Made in Vietnam Fair set to open in Hanoi

The Made in Vietnam Fair will showcase a wide range of products, including industrial and consumer goods, processed foods, agricultural produce and handicrafts, with the participation of distribution systems, e-commerce platforms, digital platforms and digital financial solution providers operating in Vietnam.

2025 a good year for Vietnam’s securities sector: SSC

2025 a good year for Vietnam’s securities sector: SSC

During the year, the SSC made significant progress in improving the legal and policy framework. Institutional work was implemented in a coordinated manner, including the issuance of two decrees, one resolution, seven circulars and three major schemes. At the same time, the regulator strengthened policy dialogue and expanded cooperation with international organisations to support the market upgrade process.

Vietnam shows strong FDI performance in the first 11 months of 2025 (Source: vtv.vn)

Vietnam shifting FDI attraction focus from volume to quality

As production relocation to Southeast Asia accelerates and competition for FDI intensifies, Vietnam faces increasing pressure from regional rivals such as India, Malaysia and Indonesia, which are offering bold tax incentives and developing specialised industrial parks. This reality requires Vietnam to shift its focus from attracting large volumes of capital to drawing high-quality investment, prioritising core technologies, innovation, value chain linkages and higher localisation rates.