Vietnam : Exports to US grew 32% from last year
November 16, 2006 |  |
Phillip W Byrd, General Director, American Importers Association (AIA), has advised Vietnam’s companies to export products to US after carefully studying their consumer markets. He said bilateral trade has progressed in previous years while addressing a meeting in HCM City.
He informed that between January and August this year, Vietnam’s exports to US were $5.5 billion which was 32 percent higher than $4.2 billion during the same period last year.
Meeting intended to give latest information about US markets to local businessmen and find methods of enhancing trade with US importers. Gross exports of country’s goods to US last year were $6.6 billion which was 25 percent higher than $5.2 billion in 2004, according to Phillip.
He predicted this year’s exports to US to cross $9 billion because of strong customer confidence in US and rise in marketing, which has not happened before.
He further said that WTO access will bring benefits like cancellation of taxes and quotas, but it will force Vietnam to increase global investors which can harm the country’s trade.
He said country’s furniture, leather, garments, accessories, textiles and fabric exporters can achieve maximum business in US markets by next year. He advised exporters to adopt direct marketing policies, take part in trade exhibitions and launch their official websites. | | |
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