Around 95 per cent of its output is expected to be exported to European markets, reflecting Vietnam’s potential role in global supply chains, he said while meeting Vietnamese ambassador to Australia Pham Hung Tam in Canberra recently.
The Australia-Vietnam Business Council in Queensland (AVBCQ) is promoting a $57-million wool processing project in Vietnam that will operate in both the northern and southern parts of the country, covering dyeing, spinning and weaving processes, according to its president Simon White.
Around 95 per cent of its output is expected to be exported to European markets, he said.
Both discussed ways to enhance economic cooperation and connect Australian enterprises with investment opportunities in Vietnam.
The council is also proposing to link Australian business councils with individual member states of the Association of Southeast Asian Nations (ASEAN) to form a network supporting business operations, according to Vietnamese media outlets.
White said leaders of the Queensland state government, including its trade minister, are keen to strengthen cooperation with Vietnam.
Fibre2Fashion News Desk (DS)
