U.S. firms want to become Vietnam’s textile fibre suppliers

Many U.S. fibre firms expressed their desire to become suppliers of Vietnamese garment and textile companies at a meeting in Ho Chi Minh City on Monday.

Production of export items at Nha Be garment company (Photo: SGGP)

Surveys by the U.S. Cotton Association show that Vietnam is a very potential market with garment being a country’s key export product, they said.

It is forecast that the industry’s export turnover will strongly increase once free trade agreements take effect.

Still, there have no many fibre plants in Vietnam and local firms have imported most materials, over 80 percent from China and India.

American fibre has good quality and competitive price and Vietnam will be a member of Trans-Pacific Partnership (TPP). Hence, U.S. firms will boost their access to Vietnamese market in the upcoming time which is considered to be their strategy for imminent advantages from the agreement, according to the Cotton Association.

By Minh Xuan – Translated by Hai Mien

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