Vietnam - Strategic Outsourcing Market of US

According to the latest report by the US International Trade Commission (ITC) on competitiveness of exporting textiles and apparels to the US after January 1, 2005, among Asian countries, only Vietnam can compete with China.

A source from the US Association of Importers of Textiles and Apparel (USA - ITA) said that Vietnam was considered as the second choice, behind China, it the country did not face difficulties due to quotas, in particular in the categories of 347/348, 647/648, 338/339, 638/639, 340/640.

Vietnam has great advantages against India, the US’s third option behind China and Vietnam, with cheap labour cost and high quality garment making.

The Vietnam Textile and Garment Association (VITAS), said that prices of textiles and garments exported to the US had increased, and American importers still considered Vietnam as their strategic market.

The Vietnamese trade counsellor in the US has predicted that export turnover of Vietnamese textiles and garments to the US would reach US$2.75 billion in 2005.

• B.T