Vietnam imports 400,000 tons of U.S. cotton annually - report
Vietnam imports 400,000 tons of U.S. cotton annually - report
There are 28 textile mills in Vietnam importing a combined 400,000 tons of raw cotton from the U.S. per year, accounting for over 50% of Vietnam’s cotton imports, according to data released at “Cotton Day 2019” on July 12.
Operating under the theme, “What’s new in Cotton”, the event was jointly sponsored by the Vietnam Textile and Apparel Association (VITAS) and the Cotton Council International (CCI), which is the export promotion arm of the National Cotton Council of America.
VITAS chairman Vu Duc Giang said the U.S. has been the world’s largest cotton exporter in recent years, and Vietnam remains one of its most important markets with Vietnamese imports from the U.S. exceeding US$1.1 billion annually.
After 10 years of exporting cotton to Vietnam, CCI has cooperated with the 28 local spinning mills. In addition, CCI has gained trust from, and established cooperation with, many local fashion brands, including Canifa, John Henry, Ninomaxx, and Onoff, with more than 1.7 million fashion products registered to be labeled with the “Cotton USA” trademark this year.
Further, CCI has organized many programs providing support for local textile-garment firms with helpful information regarding markets, the quality of cotton, and cotton supply sources. This cooperation has not only eased the process of cotton imports for Vietnam, but it also served other fields to create sustainable growth for the local textile-garment sector.
According to analysts, Vietnam is expected to attract more investments from textile-garment operators throughout the world, and the demand for cotton imports will rise sharply in the near future, buoyed by the country’s participation in many free trade agreements and the high competitiveness in this sector.
The VITAS chairman, speaking at the event, also suggested CCI offer sharper focus on stabilizing the quality of U.S. cotton, providing information about cotton quality in each season, and ensuring stable supplies.
“Cotton Day 2019” also featured a fashion show, introducing the latest Cotton USA collection from local fashion brands.
