With the country’s cotton requirement likely to rise by one million tons per year, Vietnam is hunting for other markets from where it can procure good quality cotton. According to Le Quoc An, Chairman, Vietnam National Textile and Garment Group, it is anticipated that the clothing exports during 2010 would rise by 15 percent, and that it would also touch US $20 billion by 2020.

During a meeting with the cotton producers from Africa in Hanoi on May 8, Le Quoc An stated that, Vietnam with a work force of two million workers in apparel sector is amongst the top 10 garment exporting countries. Also, during the previous year the sector through its exports had generated total revenue amounting to $9 billion.

Some portions of the regions in the country are considered just perfect for cotton cultivation but they cater only to 10 percent of country’s overall demand. This year, in the first quarter itself 92,000 tonnes of cotton was imported in the country, whereas during the entire previous year 300,000 tonnes of cotton was imported.

While Africa, India and US are the leading suppliers of cotton to Vietnam, around 50 percent of this is imported from different African regions.

With the country’s cotton requirement likely to rise by one million tons per year, Vietnam is hunting for other markets from where it can procure good quality cotton.
POST: 2024-11-24