Garment and textile exports may hit 30.5 billion USD in 2017, Vu Duc Giang, President of the Vietnam Textile Association said at the Cotton Day held in HCM City on September 12.
HCM City (VNA) – Garment and textile exports may hit 30.5billion USD in 2017, Vu Duc Giang, President of the Vietnam Textile Association(VITAS) said at the Cotton Day held by the association and the US CottonCouncil International (CCI) in Ho Chi Minh City on September 12.
Giang noted that in the first eight months of 2017, the sector enjoyed growthof 9.9 percent year on year to 19.8 billion USD in exports.
The US remained Vietnam’s leading market, accounting for 51 percent ofmarket share.
However, Vietnam imports 60 percent of its fibre, as cotton farms inVietnam have shrunk significantly and meet only 0.04 percent of the domestictextile sector’s demand, said Giang.
He asserted that Cotton Day, which was held in Vietnam for the firsttime, is a chance for the US cotton sector to evaluate the potential of theVietnamese market and to propose the US Government support the Vietnamesegarment and textile sector.
William Bettendorf, CCI Director General, said Vietnam was chosen as thehost of Cotton Day due to the market’s growth in recent years, adding that thecountry is the US cotton sector’s largest customer.
This is also the first year the CCI has suppored Vietnamese brands usingUS cotton, he said, adding that the Cotton USA label will aid Vietnameseproducts in the US market.
During the event, the CANIFA and John Henry brands’ latest collectionswere also shown, along with the collections of the five contestants of theCotton USA Fashion Design Contest.-VNA
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Illustrative photo (Source: VNA) 
