Washington Trade Mission to Visit Vietnam in September

A trade mission, to be led by Governor Chris Gregoire of the U.S.’s Washington state, will visit Vietnam and China in September, in a move to boost its exports to these nations, state media reported.

 

The trip is part of Washington’s recently-announced initiative, which is aimed to rake in $600 million from exports to China and Vietnam annually, the Vietnam News Agency cited the Governor’s Office as saying.

 

Exports have been a major driver for Washington's past economic health, and trade is going to help the state lead the nation in recovery from the recession, the office noted.

 

Vietnam will be among the first countries targeted in a plan announced by the U.S. President Barack Obama to double the North American nation’s export value in the next five years, Chairman and President of the Export-Import Bank of the U.S. (Ex-Im Bank) Fred P. Hochberg said during his visit to Hanoi in mid-June.

 

Relations between Vietnam and the U.S. have been expanding over the years, with the bilateral trade soaring to $15.4 billion in 2009 despite the global economic downturn. Vietnam’s exports to the U.S. reportedly rose 11.5% in first five months of 2010.

 

Apparel, footwear, woodwork products and seafood are Vietnam’s export staples to the U.S. while its main imports are machinery and equipment, animal feed and materials, plastic materials. (VNA)