Vietnam’s textile exports reached US$1 billion

According to Vietnam’s “Materials News”, Vietnam’s textile exports in the first seven months of 2010 were US$5.8 billion, a year-on-year increase of 17%. In July, due to the implementation of the ASEAN-Korea tax reduction agreement, Vietnam’s exports of Korean textiles increased by 80% year-on-year. The United States grew by 23%, Japan grew by 15%, Europe grew by 1.5%, and other ASEAN countries grew by 30%. Relevant people predict that if textile exports maintain their current growth momentum, they will be able to achieve the annual textile export target of US$10.5 billion.