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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
Download Now
Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
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Vietnam & US sign garment & textile MOU
13 Dec '05
1 min read
Vietnam and the US have renewed their garment and textile agreement on December 9 giving extension to the previous one signed in April 2003.
Vietnamese Ambassador Nguyen Tam Chien and David Spooner, Special Textile Negotiator of the US Trade Representative signed a Memorandum of Understanding (MoU) to this effect in Washington.
According to experts, this agreement is likely to boost Vietnam's garment and textile exports to the US by 5 to 6 percent, next year.
Vietnam had grossed nearly US $1.4 billion by exporting 25 garments and textile goods to the US by the end of November.
Unless and until Vietnam becomes a full member of the WTO and the US applies WTO terms on Vietnamese exports, however under the present MoU, the extended agreement will remain into effect till December 31, 2006, which ever is earlier.
Vietnamese Ambassador Nguyen Tam Chien and David Spooner, Special Textile Negotiator of the US Trade Representative signed a Memorandum of Understanding (MoU) to this effect in Washington.
According to experts, this agreement is likely to boost Vietnam's garment and textile exports to the US by 5 to 6 percent, next year.
Vietnam had grossed nearly US $1.4 billion by exporting 25 garments and textile goods to the US by the end of November.
Unless and until Vietnam becomes a full member of the WTO and the US applies WTO terms on Vietnamese exports, however under the present MoU, the extended agreement will remain into effect till December 31, 2006, which ever is earlier.
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