Garment & Textiles Exports to US Estimated at US$1.4Bln in First Half

Garment & Textiles Exports to US Estimated at US$1.4Bln in First Half

Vietnam is expected to earn a total of between US$1.2-1.4 billion from garment and textiles exports to the US market in the first six months of this year, according to the ministries of Trade and Industry.

This year, quota fees applied to exported garments to US will decrease about 70 per cent, the ministries said.

Talks are currently underway with related ministries and branches to reach a level coordination aimed at removing quota fees to the US, they also said.

The ministries have issued the regulations on garment quota allocation to US market in 2005 for garment alliances and dying projects on March 11.

According to Le Quoc An, chairman of Vietnam Garment and Textile Association (Vitas), the association will propose to the ministries to allow applying automatic export licenses for some special garment products to create favorable conditions for enterprises.

Vietnam’s garment sector posted US$224 million of export turnover to US in the first two months of 2005, up 12 per cent on-year.