Sustainability key to cotton production growth: Experts

Oct 5th at 15:03
05-10-2022 15:03:45+07:00

Sustainability key to cotton production growth: Experts

Sustainable cotton production will drive continuous improvement of the garment and textile industry's key indicators for sustainable development, according to experts.

 

At Cotton Day Vietnam 2022 held in Ho Chi Minh City on October 4, experts held that among the new trends of the garment and textile sector, verified data and supply chain transparency are the top factors that enhance the competitiveness of products.

President of Cotton USA (CCI) Carlos Garcia said that Vietnam is the second largest cotton importer of the US and also an important source of supply of the material.

President of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang said that this year, Vietnam aims for 42-43 billion USD in garment and textile exports. To this end, the sector has paid great attention to material supply sources and regulations on origin in import markets, he said.

Giang underlined that Vietnamese enterprises are in need of information on the cotton material sources as well as market forecast report for the 2023-2024 period.

A CCI representative said in the coming time, more and more global brands and retailers will require cotton products imported to the US and EU to be sustainable and in a transparent supply chain that is verified to be free of forced labour.

At the event, US experts, suppliers and producers also shared information and market trends and ideas to optimise cooperation opportunities between Vietnam’s garment and textile sector and the US cotton industry.

Benjamin Petlock, Senior Agricultural Attaché at the US Consulate General in Ho Chi Minh City, said that the breakthrough growth in Vietnam's garment and textile exports has made the country a promising market for multinational material suppliers. Meanwhile, changes seen in the sector recently has proved the timely adaptation and flexibility of the industry, he added.

He affirmed that Vietnam is an important destination for US farm produce and cotton in particular, adding that the US hopes to promote bilateral cooperation in this field.

vir



RELATED STOCK CODE (1)

NEWS SAME CATEGORY

Petrol prices down to lowest levels in a year

Retail prices of oil and petrol dropped from 3pm on October 3 following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.

Vietnam to impose temporary anti-dumping duty on some Chinese furniture

Vietnam will this month impose temporary anti-dumping duty on some furniture products originating from China, the Ministry of Industry and Trade said.

Vietnam’s gasoline prices drop for fourth consecutive time

Vietnam’s petrol prices dropped for the fourth consecutive time on Monday afternoon, with the popular RON95 gasoline now selling at VND21,440 (US$0.9) per liter.

Bright prospects for rice exports

The conflict between Russia and Ukraine is fueling a global food crisis that affects many countries and has sent prices to record levels. In response, many...

Vietnam ensures steady rice supply for Cuba

Rice remains the key product that Vietnam has sometimes offered Cuba for free over the past years while transferring farming techniques to the country of...

Supply shortage pushes up prices of many drugs

The prices of anaesthetics have increased due to supply disruptions, said insiders at some hospitals and dental clinics.

Co-processing in cement industry: Norway expertise for Vietnam net-zero target

The method helps the cement industry play a more important role in reducing greenhouse gas emissions and preventing plastic waste from ending up in the oceans.

Vietnamese tech firm launches country’s first semiconductor chips

FPT Semiconductor, a subsidiary of Vietnamese tech giant FPT, has officially launched its first line of integrated circuit (IC) chips indicated for use in medical...

Vietnam Jan-Sept rice exports at 5.4 mln tonnes, up 19.3% y/y: stats office

Vietnam's rice exports in the January-September period are estimated to have risen about 19.3% from a year earlier to 5.4 million tonnes, government data released...

FPT Software produces Make in Vietnam chips

Vietnam’s semiconductor industry is estimated to exceed $6.16 billion by 2024.

Commodity prices


MOST READ


Back To Top