Vietnam : Garment, Textile Exports To Reach 3.2 Bln US$

Chairman of Vietnam Textile and Apparel Association, Le Quoc An said that Vietnam is expected to reach its yearly garment and textile export target of 3.2 billion US dollars.

In addition to markets limited by quotas like the United States,
Vietnamese garment and textile producers will tap into the potential of the markets of South Africa, Turkey, Canada and Southeast Asia in the second half of this year because they either have the advantage of no quotas, or offer many tariff incentives.

Vietnam made garment and textile export earnings of 1.84 billion
dollars in the first half of 2003, a year-on-year rise of roughly 70 percent, with many firms swamping the US market before its imposition of quotas.

Specifically, it earned some 1.2 billion dollars from US exports, 240 million dollars from Japan and 195 million dollars from the European Union.

The country's earnings from European Union exports dropped because the block has removed quotas for new World Trade Organization members like China, resulting in decrease in the competitiveness of Vietnamese products.