Australian wool producers are planning to focus on Vietnam as the new export market and develop a sustainable supply chain for its wool industry in the country.
As part of the market expansion plans, Australian Wool Innovation (AWI) has implemented the ‘Out of Vietnam project’. The project aims at developing a sustainable supply chain in Vietnam and expanding Australian wool manufacturing sector.
According to Jimmy Jackson, general manager for Product Development and Commercialization of AWI, Australia is exporting 80 percent of its wool to China and there is a need to develop a new processing and manufacturing market for Australian wool, Vietnam News reported.
Mr. Jackson said Vietnam is a potential market for Aussie wool because of its well-established textile manufacturing industry and infrastructure, growing exports of textile products, large trade access including free trade agreement with the US, skilled workforce, low sovereign risk and sufficient supply of water.
He added that Vietnam provides a good alternative to China for Australian greasy wool exports.
He informed that Out of Vietnam project will initially focus on the knitting sector and will gradually shift its focus to woven sector.
