Vietnamese textile companies plan to seek new suppliers of raw materials and auxiliary materials to reduce dependence on the Chinese market
According to Vietnam’s “Saigon Liberation Daily” report: At the Indian Textile, Fiber, and Cotton Enterprises Trade Promotion Conference held in Ho Chi Minh City a few days ago, some Vietnamese enterprises hope to seek new supply markets for raw materials and auxiliary materials to reduce their dependence on China. Up to now, most of the raw and auxiliary materials used by Vietnamese textile companies come from China. Among these textile export companies, most use 70-80% of Chinese raw materials and auxiliary materials, while some only use 50-60%. Chinese raw materials and auxiliary materials have great competitive advantages compared with other countries in the Vietnamese market, with many favorable conditions such as rich product styles and low transportation costs. As the main export force, Vietnam imports 70-80% of its textile raw materials from China. Many companies are worried about this and have expressed their need to take preventive measures to avoid accidents. The Indian Textile, Fiber and Cotton Export Promotion Association pointed out that in the next three years, India’s exports of textiles and cotton to Vietnam will double, and Indian textile companies are looking forward to further exploring the Vietnamese market.
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