US Firms, Vietnamese Trade Ministry to Talk on Textile Quota
Big US importers and retailers will arrive in Vietnam to talk with the Vietnamese Ministry of Trade on quotas on textiles and garments exported to the US market, says the Ho Chi Minh City-based American Chamber of Commerce (Amcham).
US importers now want to know when the US’s quota mechanism on Vietnamese apparel products is removed as the country joins the World Trade Organization (WTO).
At present, many Vietnamese textile and garment makers and US buyers are embarrassed in dealing with orders for 2007.
Vietnam will be officially admitted to the WTO in Geneva today [November 7].
In the first ten months of this year, Vietnam increased garment exports stateside by more than 10 per cent on-year to $1.78 billion.
The country ranks 16th among 153 clothing exporters worldwide and has set its sights on climbing into the top 10 by 2010.
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