US Plans Joint Business For Textile

United States is planning to establish a joint business with Vietnamese companies. The US cotton producers and textile garment businessmen after five-day survey on Vietnam market showed interest in joint business that will create favorable conditions for the later to deal business with the US market.

Accordingly, the US cotton producers will sell their cotton to Vietnamese enterprises for making textile garment products to be exported to the US market. This is an interesting signal for both sides. Vietnamese textile garment products with more use of materials and sub-materials from the US will have more advantage for exporting to the US, the experts commented. Some enterprises from the US declared that in case Vietnamese textile garment products are made of 50% materials from the US, they will enjoy some advantageous conditions in exporting to the US market.

Vietnam''s textile garment export value to the US market in 2003 estimated to reach US$2 billion. The experts estimate the figure of US$3 billion in 2005 will be realizable.