America Chamber of Commerce in Vietnam (AmCham VN) recently forecasted that Domestic textile and apparel exports to the US market will gain momentum in the remaining months of 2007, as no evidence of anti–dumping case could be found and US clients are returning back.
AmCham figured that Vietnam's textile and apparel industry will reap US $4.3 billion from exports to the US market in 2007, to soar 26.5 percent in comparison with 2006.
In late October the US Department of Commerce's announcement of finding no evidence of dumping on products sourced from Vietnam, led to a strong optimistic view for not only the US clients but also Vietnamese manufacturers.
According to Le Quoc An, Chairman of Vitas, Vietnam has already joined the World Top Countries of exporting textile and apparel products and have earned strong growth in the first ten months of 2007 with around $6.5 billion turnover, where the US market plays significant role.
The textile and apparel so far is the largest currency earner for the country and is expected to touch $7.5 billion of turnover this year.
AmCham estimates that in 2007, shipment of Made–in–Vietnam products to the US market will climb to $10 billion, a $300 million higher than 2006.
Fibre2fashion Nes Dessk - Vietnam
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