Illustrative image (Source: VNA)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./.
VNA
