Finance Ministry to scrap export quota fees to the US
27 Jul '05
1 min read
Finance Ministry intends to scrap the quota fees, which the local textile producers pay to get quotas for textile exports to the US.
The Ministry stated that the elimination of quota fees will give fillip to about 800 local textile producers exporting textiles to the US market.
The move will support producers in reducing overheads of the producers and ease out problems faced by exporters.
At present, the US is the only country which still upholds the imposition of quotas. Textiles is Vietnam's second largest foreign currency earner after crude oil.
marketing@alchempro.com
