Vietnam, US to double trade over next 5 years

Trade between Vietnam and the US is expected to double in the next five years from the US$19 billion recorded last year, Secretary of Commerce for International Trade Francisco Sanchez said.

Speaking at a press conference in Ho Chi Minh City Wednesday, he said bilateral trade in January was worth nearly $1.716 billion, 21.3 percent up from a year earlier.

Vietnam’s exports topped $1.38 billion, 19.5 percent up, while its imports rose 29.2 percent.

Textile remained the top export item at $548.8 million, an increase of 19.5 percent, followed by footwear and wooden furniture at $170.9 million and $158.6 million.

The US shipped mainly fabric, machinery and components, and construction materials.

Sanchez, who wraps up his four-day visit Thursday, has been meeting top officials, executives at some of the biggest companies, and academics to discuss strategies to enhance bilateral trade. – Tuoitre

Tags: Vietnam US Trade

Posted by VBN on Apr 8 2011. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry