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Vietnam:Ministry approves transfer of textile and
garment producers quotas |
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2005-1-21
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In a swift decision on Monday, the Ministries of Trade and Industry announced that textile and garment producers could transfer US export quotas. It is the demand for the textile quotas that led to the above decision, a senior official from the Ministry of Trade informed.
This would benefit those exporters who had readied export consignments but lacked quotas while others could not expend their allocated quotas.
While welcoming the decision, The Vietnam Textile and Apparel Association (Vitas)’s Chairman Le Quoc An termed the action as “one solution for the problem.”
The Vietnamese Government however has not allowed trading in the quotas, and only transfers albeit with some restrictions, have been permitted.The Government has also stipulated certain criteria for obtaining quotas through transfer such as the firm’s export record last year, on which basis, 70 percent of the allocation will be done this year by the Government. Second one is the company’s record in exporting non-quota goods.
Overall, the move will help firms within an alliance or group of large and small and medium-sized enterprises (SMEs) to work closer under a strategy worked out by the Government and Vitas. |
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