Trang 0904729478 Ha Noi

Trang 0904729478 Ha Noi

Vietnam apparel exports to jump 25 pct

Vietnam’s apparel exports are set to grow by 25 percent this year to US$7.5 billion, the industry association has forecast.

The Vietnam Textile and Apparel Association (VITAS) said following Vietnam’s recent WTO entry its exporters no longer had to contend with restrictive conditions in some giant markets like the US, and had the opportunity to expand exports. Export tariffs on Vietnamese apparel would be cut sharply. Exports to the US would double from last year’s $2 billion since the US’s quota scheme had ended with WTO membership. However, the US was working out a supervisory scheme on Vietnam’s five top apparel items – shirts, trousers, underwear, sweaters, and swimwear. If Vietnam was discovered violating WTO rules or subsidizing garment manufacture, heavy anti-dumping duties could be slapped or quotas re-imposed. VITAS suggested that exporters should avoid excessive dependence on the US because of the high risk of law suits and explore untapped markets like Japan and South Africa. Source: Thanh Nien – Compiled by Dong Ha