Garment and footwear exports see big jump in first two months http://www.vneconomy.com.vn/eng/?param=article&cateid=01&id=f7ecff5892aed5
VNECONOMY updated: 09/03/2006
Viet Nam's garment export turnover reached nearly US$867 million in the first two months of 2006, a year-on-year increase of 45.5 percent, said the Ministry of Industry.
Meanwhile, footwear exports gained US$581 million, a 30.8 percent increase over the same period last year.
The ministry added that the 60 percent quota allocated for high-demand garment categories, will be granted in the form of guarantee fund and the rest will be in the form of automatic-visa granting procedures.
It also forecasts that the footwear sector will face difficulties due to fierce competition and the European Commission's ongoing anti-dumping lawsuit. However, several big companies still have orders thanks to sales guarantees by their foreign parent firms.
Source: Vietnam Agency
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