Vietnam Targets $290Mln from Bike Exports in 2005

Vietnam Targets $290Mln from Bike Exports in 2005

Vietnam has set a target to gain bicycle export turnover of $290 million this year although the sector is facing many difficulties in the foreign market.

The Ministry of Industry is instructing the Vietnam Bicycle and Motor Association to prepare data and evidence for Canada’s anti-dumping lawsuit.

The association said that it was coordinating with domestic enterprises to actively expand export activities in other markets such as UK, Germany, Taiwan, Austria, Denmark and Italy.

The country’s bike export turnover sharply decreased in the first months of this year. The country only earned $47 million from exports of this product in the first quarter, equivalent to 70.1% over the same period of last year.