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Firms may buy more US cotton

Sep 14th at 15:37
14-09-2013 15:37:56+07:00

Firms may buy more US cotton

US cotton exporters met with their Vietnamese customers in HCM City on Wednesday to discuss stepping up cooperation.

Garments and textiles are a key export item, so the demand for cotton in Viet Nam is quickly increasing. The country imported 420,000 tonnes of cotton last year, putting it in the top ten cotton users and top five cotton importers in the world. Between 40 and 50 per cent of Viet Nam's cotton imports come from the US.

The Viet Nam Cotton and Spinning Association Secretary General Nguyen Hong Giang said mutual understanding between the US's cotton sector and Viet Nam's spinning industry plays an important role in boosting trade and reducing risks caused by changes in prices and markets.

The US Staple Cotton Cooperative Association has launched a programme to support Vietnamese customers, according to Hank Reichle, a representative from the organisation that met on Wednesday with the Viet Nam Cotton and Spinning Association and the Viet Nam Textile and Apparel Association.

vietnamnews

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