Trade Ministry for action against textile quota defaulters
27 Jul '05
1 min read
Garment exporters unable to fufill quota obligations, beware! Truong Dinh Tuyen, Minister of Trade announced at a textile and clothing conference in Hanoi, that the Ministry of Trade would eliminate the quotas from textile and garment exporters fail to utilise up to 45 percent of their allocated quotas.
Due to lower registering of textile and garment export value during the first half this year at US $2.052 billion as against the yearly projected target of US $5 billion, the Inter-Ministry of Trade and Industry will ensure quota allocations among enterprises capable of delivering quality in production and export as well as boost textile and garment export in the left months of the year, Minister Tuyen added.
The Inter-Ministry suggested that textile and garment exporters will have to pay deposit for quotas to make them more accountable in utilizing the same. The Ministry is approaching the Government for seeking final approval on the issue.
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