Garment and textile industry export value this year

Ha Noi, Nov. 5 (VNA) -- The garment and textile industry will earn USD 1.9 billion from exports in 2000, an increase of 8.7 percent over 1999.

Exports to quota markets such as the European Union (EU), Canada and Turkey will contribute USD 720-730 million, or a year-on-year increase of 15 percent. This figure will amount to 39 percent of the industry's total export turnover. Meanwhile, exports to off-quota markets including Japan and the United States are expected to rise 17 percent over 1999.

The industry registered an export turnover of nearly USD 1.54 billion in the first ten months of this year.

It aims to earn USD 4 billion from exports by 2005.

Textile and garment exports are Viet Nam's second biggest hard currency earner after crude oil.

According to an inter-ministerial report from the Ministries of Trade, Industry, and Planning and Investment, Viet Nam's export value to the EU trebled over eight years (from 1993 to 2000) thanks to three official agreements and two adjusted ones on garment and textile exports between Viet Nam the EU.

Additionally, the ministries concerned have improved management mechanisms, allowing proper allocation of quotas and incentives, and creating favourable conditions for businesses in all economic sectors to boost exports and increase the efficiency of production