The visit of US President Joe Biden to Vietnam and the signing of several bilateral ties have raised hopes for the Vietnamese textile and garment export industry.
“The US is Vietnam’s biggest overall merchandise export market and also its eighth largest trading partner,” statistics released by the Vietnamese Trade Office in the US informed.
“Textile and garment exporters are expressing high hopes that the upgrade of bilateral ties between the two countries would facilitate greater trade exchanges,” Tran Nhu Tung from the Vietnam Textile and Apparel Association (VITAS) said.
“The upgrade of ties would also open up a wealth of opportunities for major Vietnamese exporters of textile and clothing into the US,” he added.
He further said that apparel exporters have received more export orders to the US in the fourth quarter as against the current quarter.
Tung was also hopeful that the US would devise a more competitive tax rate mechanism for Vietnamese textile and garment products.
Joe Biden visit raises hopes of Vietnam garment exporters
