Vietnam-US Trade Develops Strong Links Over Past 13 Years

HANOI, May 12 Asia Pulse - Vietnam-United States trade has strongly developed since the two countries established diplomatic relations 13 years ago, especially following six-years of implementation of a bilateral trade agreement, with two-way trade reaching US$13 billion in 2007.

Last year, Vietnam earned about US$10.5 billion from exports to the US, an increase of 28.9 per cent 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 US$6.6 billion, representing 63.4 per cent 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 per cent of market demand.

(VNA)

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