Quota allocation for exporting textiles to US will have a new mechanism, announced Vietnam's trade and industry ministry.
Under this mechanism instead of 70 percent, visas will be issued automatically for 40 percent of quotas in each category.
Companies which had posted good performance in 2005 will be alloted the remaining 60 percent quota, by collecting deposits equivalent to 60 percent of their exports to the US, in 2005.
The Ministry of Trade said that Vietnam's garment export is being targeted between $5.6 to 5.8 billion for 2006.
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