ASEAN KEY DESTINATIONS
Vietnam: US to help develop textile industry
The US's cotton associations have pledged to help Vietnam develop its textile and garment industry, according to the Vietnam Textile and Apparel Association (VITAS), reported Vietnam state news agency VNA.
An agreement on cooperation has been inked between VITAS, and the Texas Cotton Association and the Cotton Council International of the US.
Under the agreement, the US side will supply cotton and provide technical assistance to Vietnam.
They will also help in personnel training and co-organise trade promotion activities.
The US is the biggest cotton supplier in the world, producing over 3.2 million tonnes in the 2008-09 crop. It is also the biggest cotton provider for Vietnam, making up 30 per cent of the country's imported cotton volume.
Meanwhile, Vietnam has been in the top five exporters of textile and garment to the US for the past three consecutive years, with an export value of $4.29 billion per year.
This year, Vietnam is expected to export $5.4 billion worth of textiles and garments to the US market to secure the second place behind China in the export of those products to the country.
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