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Da Nang strikes $141 mn clothing deal from US

21
Jun '07
Da Nang Garment and Textile 29-3 Company, a Vietnamese enterprise has signed a deal worth US $141 million with Spaceman Corporation, a US retailer.

Le Quoc An, Chairman of Vietnam Textile and Apparel Association (VITAS) and President Nguyen Minh Triet were present during inking of the deal.

The Vietnamese garment company needs to deliver 20 million pieces of apparel to the US counterpart, which will make Da Nang the biggest exporter in central Vietnam.

In the first quarter of 2007, Vietnam exported apparel worth $927 million, to US showing a growth of 20 percent as compared to the same period of last year. It is anticipated this year total garment exports will see a rise of 27 percent to $7.3 billion.

Statistics revealed that US accounts for 55 percent of Vietnam's textile shipments making it one of the largest markets for the country.


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