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Vietnamese textile delegation: potential wool market.

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AFFA01/207WT 2 August 2001

Vietnamese textile delegation - potential wool market

A high-level delegation from the Vietnamese textile industry has been in Australia for a week of discussions with representatives from key sectors of the wool industry, the Federal Minister for Agriculture, Fisheries and Forestry, Warren Truss, said today.

The delegation, which included senior officials from some of Vietnam’s leading textile groups, including Vinatex, Agtex, Blatex and the Nam Dinh Silk Company, met with members of Australia’s wool export and processing sectors, textile researchers and other important wool industry service providers.

Mr Truss said that Vietnam is currently considering options about how wool can play a part in the expansion of the Vietnamese textile industry.

"The July visit gave the Vietnamese an opportunity to identify potential areas for market development and future collaboration," Mr Truss said.

"The visit by the delegation concluded on a positive note following proposals put on the table by the Australian investigatory team for the development in Vietnam of a substantial wool apparel textile industry.

"Vietnam currently imports a small quantity of about 1000 tonnes of Australian wool. This is supplied to Vietnam mostly as yarn from third country suppliers.

"The Vietnam delegation indicated their interest in pursuing development of a trade which could, by the end of this decade, be worth up to $50 million to Australian wool producers.

"To achieve this ambitious target, a substantial investment by Vietnam in new and upgraded plant, training and international investment will be needed.

"Australia officials will shortly be providing a full report to the Vietnamese setting out the details of the options and will follow up with the groups as the textile industry planning progresses in Vietnam.

"Australia has a unique opportunity to play an important role in helping develop and plan the Vietnamese wool textile industry over the coming decade," Mr Truss said.

"The visit followed an Australian mission to Vietnam in June to investigate the long-term potential of that country developing a substantial wool processing industry.

"I am pleased the Vietnamese delegation positively to the blueprint produced by the Australian mission, that outlines a range of options for the future development of Vietnam’s wool textile industry.

"This followed the signing of a Memorandum of Understanding between the mission and a key Vietnamese textile group at the conclusion of their visit to Vietnam.

"The return visit provided the Vietnamese with the opportunity to see first-hand various aspects of the Australian wool industry and to meet and exchange views with industry representatives."

Mr Truss said that the Vietnamese delegation held discussions with representatives of CSIRO’s Textile and Fibre Technology Division, The Woolmark Company, wool exporters and processors and a number of other wool industry participants and organisations.

Mr Truss said that while the Australian proposals would require a considerable commitment by the Vietnamese, he was hopeful of a long and fruitful partnership between the Australian wool industry and the Vietnamese textile industry.

Minister's office: Yvonne Best (02) 6277 7520 or 0418 415 772

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Last updated 2 August 2001

URL: Commonwealth of Australia 2001