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Post-WTO era to favor apparel exports

10
Mar '07
Textile and apparel industry is flourishing rapidly and expects promising future.

With the membership to WTO, dealers and exporters had better opportunities to expand their markets and not conform to the trade restrictions imposed by the giant markets like the US.

Experts expect apparel exports to the US to almost double as the duties would be cut down significantly. The US quota policy had also ended, adding to the benefits.

However, the US was drafting a supervisory scheme on Vietnam's five top apparel items – shirts, sweaters, swimwear, trousers and underwear.

If the country defies WTO rules, it would have to suffer serious consequences.

Industry analysts advise that domestic manufacturers should not rely on the US as it has high risk of law suits and must explore new markets.


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