Quotas imposed on Viet Nams garment exporting to the US will be abolished as of Jan. 1, 2007, Secretary General of the Viet Nam Garment and Apparel Association Le Van Dao confirmed on Dec. 6.
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Quotas imposed on
The abolishment, which was in line with the World Trade Organisations regulations and the Viet Nam-US bilateral trade agreement, will surely create favourable conditions for
However, the garment sector will have to face many difficulties in 2007, he said, adding that the US Committee for the Implementation of Textile Agreements (CITA) is likely to make detailed plans for each Viet Nams outgoing garment batch, which will be exported under the last period of the quota system.-Enditem
Under the plans, the
Additional quota which is equivalent to 5 percent of the basic quota for 2006 will be separately imported.
(Source: VNA)
