U.S. Businesses Keen on Raising Cotton Exports to Vietnam
The U.S. cotton exporters are highly interested in increasing their shipments to Vietnam, said the foreign country’s National Cotton Council October 15 during its official talks in Ho Chi Minh City.
U.S. cotton businesses are now estimated to provide 28 per cent of Vietnam apparel makers’ demand. According to Vietnam Textile and Apparel Association, the country needs 200,000 tons of cotton while local producers can supply only 15,000 tons (25 per cent).
The Southeast Asia country was estimated to import $213 million worth cottons in the first nine months, up 28 per cent on year, said the General Statistics Office.
Vietnam, one of top ten apparel exporting countries, is much expected to earn $7.5 billion in 2007, up 25 per cent over last year. It targets apparel exports of $10 billion by 2010 and $20-22 billion by 2020. (Liberated Saigon)
Vietnamese
