SGGPO Monday, September 14, 2020: On the afternoon of September 14, the Vietnam Textile and Apparel Association (VITAS) cooperated with the American Cotton Association (CCI) to hold a press conference to introduce Cotton Day Vietnam – the biggest cotton festival of the year. The event will take place on September 22 in the form of an online seminar due to the complicated developments of the Covid-19.
The festival has the theme Leading through a period of upheaval: Partners of textile businesses in the new era with the participation of the world’s leading speakers, leaders in the US Cotton industry and VITAS.
Cotton Day is a major event of CCI, held in many Asian countries since the early 1990s to create a space for exchanges between textile enterprises with partners, suppliers and cotton specialist. CCI currently operates in more than 50 countries through 20 offices around the world, has 60 years of experience in promoting American cotton yarns and products to businesses and consumers.
According to Mr. Vo Manh Hung, Chief Representative of CCI in Vietnam, the online seminar is applied in the form of virtual reality technology, so Cotton Day Vietnam 2020 will have a virtual exhibition space.
Not only making a mark with a new form, Cotton Day Vietnam 2020 will have the presence of leading speakers such as Michael Duke, former CEO of Walmart – a retailer and recruiter. the world’s largest. Mr. Michael Duke in the top 10 “The most powerful people in the world 2013” according to Forbes data; Mr. Willis Sparks – Head of global and macro strategy of Eurasia Group – the largest political risk consulting company in the world; Mr. Vu Duc Giang, Chairman of Vietnam Textile and Apparel Association, has made great contributions in bringing Vietnam’s garment industry to the world.
Chairman of Vietnam Textile and Apparel Association Vu Duc Giang will present at Cotton Day Vietnam 2020
In addition, there are 4 senior leaders of the US cotton industry: Mr. Ricky Clarke, Chairman of CCI; Mr. Gary Adams, President and CEO of the American National Cotton Association (NCC); Mr. Hank Reichle, CCI Chairman and Mr. Bruce Atherley, CEO of CCI.
In this event, the world’s leading speakers and senior leaders of CCI and VITAS will update the hottest current topics on the global cotton industry during the Covid-19 epidemic, development program. the latest US cotton sustainability and solutions to support textile and garment businesses in the current “new normal” period.
In 2017, Cotton Day was held for the first time in Vietnam with the cooperation between CCI and VITAS. Cotton Day Vietnam is held every September, attracting the participation of hundreds of businesses, partners in the Vietnamese fashion and textile industry. Vietnam is the third largest cotton importer in the world with a consumption of 1.5 million tons / year, of which more than 800,000 tons of cotton are imported from the US (accounting for 60% of total import volume). The amount of Vietnamese cotton imported from the US accounts for 25% of the total US exports and is the country that imports the most US cotton in the world.
Note: According to USDA Foreign Agricultural Service, Washington, post estimates Vietnam’s cotton imports for marketing year (MY) 2019/2020 down to 1.28 million metric tons (MMT), or 5.90 million bales, due to the ongoing COVID-19 pandemic, which has affected many of Vietnam’s key business partners, including China, Korea, Japan, the United States, and the EU. The pandemic has dragged down demand for apparel and has significantly affected cotton imports to Vietnam. U.S. cotton exports to Vietnam in MY19/20 are estimated at 707,000MT, or 3.24 million bales, down 15 percent from the previous year. Despite this decline, Post estimates that the United States will still maintain its market share of 55 percent. For MY20/21, Post forecasts that Vietnam’s cotton imports will recover with 10 percent growth, importing about 1.42 MMT or 6.5 million bales. U.S. cotton should gain a 60 percent market share. This forecast is subject to ongoing COVID-19 developments; please see the Cotton and Products Semiannual in November 2020 for updates.