Apparel exports predicted to hit US$30.5 billion
Garment and textile exports may hit US$30.5 billion in 2017, Vu Duc Giang, President of the Vietnam Textile Association (VITAS) said at the Cotton Day held by the association and the US Cotton Council International (CCI) in Ho Chi Minh City on September 12.
Giang noted that in the first eight months of 2017, the sector enjoyed growth of 9.9% year on year to US$19.8 billion in exports.
The US remained Vietnam’s leading market, accounting for 51% of market share.
However, Vietnam imports 60% of its fibre, as cotton farms in Vietnam have shrunk significantly and meet only 0.04% of the domestic textile sector’s demand, said Giang.
He asserted that Cotton Day, which was held in Vietnam for the first time, is a chance for the US cotton sector to evaluate the potential of the Vietnamese market and to propose the US Government support the Vietnamese garment and textile sector.
William Bettendorf, CCI Director General, said Vietnam was chosen as the host of Cotton Day due to the market’s growth in recent years, adding that the country is the US cotton sector’s largest customer.
This is also the first year the CCI has suppored Vietnamese brands using US cotton, he said, adding that the Cotton USA label will aid Vietnamese products in the US market.
During the event, the CANIFA and John Henry brands’ latest collections were also shown, along with the collections of the five contestants of the Cotton USA Fashion Design Contest.