More opportunities for vietnamese goods
According to the Vietnamese businesses that joined Deputy Prime Minister Nguyen Tan Dung on his recent
working visit to the United States, there will be many opportunities for Vietnamese goods to enter the U.S.
market
Ho Quoc Luc, director of the Soc Trang Food and General Import-Export Company (Fimex Vietnam),
says some American businesses affirmed that the U.S. market is recovering step by step. In recent weeks,
U.S. businesses have increased their number of purchases because of reduced stocks in order to meet
local demand. "For the first time, trading aquaproducts has become boisterous in the last few months of the
year; some have even prepared to import products for the beginning of 2002," Luc tells The Saigon Times
Weekly.
According to Luc, although the crop season is
ending, supplies of Vietnamese aquatics are
still abundant, as shrimp breeding this year
has developed far more than in previous years.
However, there is still not enough shrimp to
meet current export demands.
Nguyen Khac Thanh, general director of the
Vietnam Leather and Shoe Corporation, made
some remarks on the meetings of the
Vietnamese trade mission in the United
States. He reported, "It seems that U.S.
businesses have been longing for this
opportunity. When Vietnamese leaders visited
the country and officially announced the
opportunities for business cooperation, they
were very interested."
Textile and garment producers benefited most
from this trip. Mai Hoang An, general director of the Vietnam National Textile and Garment Corporation
(Vinatex), says that with the tax rate cut from 40% to 4%, the textile and garment industry has a great
advantage of entering the U.S. market now that the trade agreement has come into effect. On this trip,
textile and garment businesses signed many agreements and memorandums, especially for the exportation
of shirts and trousers. For example, Nha Be Garment Company has a contract to export 1 million shirts in
the second quarter of 2002; two other companies signed for 4 million shirts and trousers; Hanoi Textile and
Garment Company has a contract to supply 1 million polo-shirts, and another company will export 48
million pairs of underwear.
According to An from Vinatex, clients note that Vietnamese goods meet requirements for quality and
prices. The U.S. Textile Garment and Leather Shoes Association has a plan to come to Vietnam in January
2002 to continue discussions for cooperation programs. Many other importers also said that they would
come to study business opportunities after the new year.
With the new agreement, Vinatex will cooperate with the Vietnam Textile and Garment Association to
instruct its members to concentrate their resources to produce quality goods, insure prompt delivery, and
find ways to avoid competition between them and share orders. An says such activities are necessary,
especially since Vietnam has to compete with many rivals which have experiences in penetrating the U.S.
market, especially Chinese companies.
According to An, Vietnam's textile and garment exports to the United States in 2002 would probably triple
that of 2001, reaching US$150 million.
By Luu Phan - The Financial Times - January 03, 2002.
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