African cotton has become a preferred choice for textile producers in Vietnam owing to its superior quality and comparatively lower prices, according to Vu Duc Giang, Chairman of Vietnam Textile and Apparel Association (VITAS).
Speaking at a seminar co-hosted by VITAS, Ministry of Industry and Trade (MoIT), Vietnam Cotton and Spinning Association, and the International Trade Centre, Mr. Giang stated that Vietnamese textile producers are set to import increasing quantity of cotton from the African countries.
In 2010, Vietnam imported 357,300 tons of cotton including from India, the US, Africa and a number of other countries. However, cotton imported from African countries was best able to meet the requirements of the domestic industry, Mr. Giang said.
Deputy Minister of MoIT, Ho Thi Kim Thoa, said that mutual trade between African nations and Vietnam has grown considerably over the past few years. But, a huge potential still remains unexploited, she added.
Further while speaking at the meeting aimed at enhancing cotton exports from East and Southern Africa to Vietnam, Ms. Thao said that the meeting would help in better dissemination of information regarding cotton output and markets while developing a direct link between Vietnamese firms and their African associates.
Vietnam imported 47,659 tons of cotton from Africa at a cost of US$ 193.86 million during last year. The imports of cotton from South Africa alone stood at 16,768 tons costing around US$ 68.86 million.
The Vietnamese producers were required to import cotton from Africa through intermediaries, which posed many problems both for the importers as well as the exports and even led to a rise in import costs.
Fibre2fashion News Desk - India
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