Vietnam-US enjoy strong trade ties

09/05/2008 -- 9:03 PM

Hanoi (VNA) – Vietnam-US trade has strongly developed since the two countries established diplomatic relations 13 years ago, especially following six-years implementing a bilateral trade agreement, with two-way trade reaching 13 billion USD in 2007. Last year, Vietnam earned about 10.5 billion USD from exports to the US , an increase of 28.9 percent over the previous year, taking the US to the top of Vietnam ’s list of trade partners and the Southeast Asian country’s largest export market. According to the Ministry of Industry and Trade, Vietnamese businesses export 18 main products to the US . Topping the list are textiles and garments, wood products and footwear, combining to bring in an export turnover of 6.6 billion USD, representing 63.4 percent of the country’s US export revenues. Ranked third among footwear exporters to the US , Vietnam has a bright future producing footwear for the country, particularly when US domestic producers are only able to meet just 2 percent of the market’s demand.-Enditem
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