Vietnam Lifts Quota Fees for Textile Exports to U.S.
Vietnam’s Finance Ministry has decided to abolish the fees local textile manufacturers have to pay to obtain quotas for exports to the US market.
The abolition should boost nearly 800 local textile producers exporting to the American market, helping producers cut business costs and ease difficulties in export to the US so far, according to the ministry.
Out of the country’s biggest textile markets, only the US still upholds the imposition of quota restrictions.
Textiles are Vietnam’s second largest export earner after crude oil.
This year, the country’s total exports to the US are forecast to reach US$6 billion, in which textiles are a major earner.
Reported by Xuan Danh – Translated by Hieu Trung
Story from Thanh Nien News
Published: 26 July, 2005, 20:40:57 (GMT+7)
Copyright Thanh Nien News
