Aussie wool producers eye Vietnamese market
(VOV) - Australian wool producers have set their sights on the Vietnam market for 2015, hoping to significantly expand exports, investment and supply chains in the Southeast Asian country.
Vietnamese producers have in the past traditionally imported wool yarn from China, India, Italy, and Germany. Experts forecast that domestic processing will help to save import costs and time.
The manufacturers are making efforts to increase ties with Vietnamese businesses to help them access their natural wool products as well as Australia's wool and yarn processing technologies.
Andrew Patridge, an expert from Techwool Trading said the expansion of new outlets in Asia is a decisive orientation for the Australian wool industry to reduce its dependence on China which now consumes some 70% of Australia’s wool export volume.