African cotton popular for quality, price

HA NOI — Vietnamese producers are set to import more cotton from Africa based on its good quality and reasonable pricing, according to an official from the Viet Nam Textile and Apparel Association (VITAS).

At a seminar, co-organised by the Ministry of Industry and Trade (MoIT) and the International Trade Centre, VITAS and the Viet Nam Cotton and Spinning Association in Ha Noi yesterday, Vu Duc Giang, chairman of VITAS, said that Viet Nam had imported 357,300 tonnes of cotton from the US, India, Africa and several other countries during the course of last year.

African cotton managed to meet domestic production requirements the best however, Giang said.

At the meeting, aimed at boosting East and Southern African cotton exports to Viet Nam, Ho Thi Kim Thoa, deputy minister of MoIT, said that bilateral trade between Viet Nam and nations in Africa had seen significant growth in the past few years.

However, a lot of untapped potential remains, she added, emphasising that the meeting would help provide more information regarding cotton production and markets while creating a direct channel between Vietnamese companies and their African partners.

Thoa confirmed that Viet Nam had imported 47,659 tonnes of cotton, worth US$193.86 million, from Africa last year. From South Africa alone, volume and value came to 16,768 tonnes and $68,86 million, respectively.

However, Vietnamese producers had had to import African cotton via intermediaries, causing an array of difficulties to both exporters and importers while raising import costs.

August 20, 2011

Source: vietnamnews.vnagency.com.vn