American cotton experts and suppliers at the 2022 Cotton Day Vietnam held in HCM City on October 4. — VNA/VNS Photo

HCM CITY — Verified data and transparent supply chains are the leading factors in competitiveness in the textile industry, experts have said.

President of the Vietnam Textile and Apparel Association, Vũ Đức Giang said the garment and textile export target this year was US$42-43 billion, and to achieve this the industry had been focusing on raw material sources and regulations related to origin in its export markets.

He stressed that Vietnamese businesses were in need of information about cotton sources and market forecasts for 2023-24.

At the 2022 Cotton Day Vietnam held in HCM City on October 4, a representative from the Cotton Council International said more and more global brands and retailers would require cotton products sold in the US and EU to be sustainable and with a transparent supply chain that is verified to be free of forced labour.

US suppliers and producers shared information including about market trends and ideas to optimise co-operation between the Vietnamese garment and textile sector and their cotton industry.

Benjamin Petlock, senior agricultural attaché at the US consulate in the city, said breakthrough growth in Việt Nam's garment and textile exports has made the country a promising market for global raw material suppliers.

Meanwhile, the changes seen in the industry recently proved its timely adaptation and flexibility, he added. – VNS