Sustainability key to cotton production growth: 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.

Illustrative image (Source: VNA)

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.

Brightened prospects for garment and textile industry Thanks to the flexible policies of the government on pandemic prevention and international integration, garment and textile exporters have been overcoming the woes of 2021 and achieved their yearly targets.

Creating more solidarity to accomplish Vinatex goals Vietnam’s garment and textile exports were estimated to have hit $39 billion last year, representing an increase of 11.2 per cent on-year and 0.3 per cent higher than the figure in 2019, before strict pandemic restrictions were imposed. This success was attributed partly to Vietnam’s state-run Vinatex and its subsidiaries, which all expect further impressive growth this year.

Robust mechanisms required to conquer Russian textile market With many advantages and an existing free trade agreement, Vietnam’s textile and garment exports to the $13-billion Russian market have big room for development, which could be further boosted by establishing joint ventures in the two nations.