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Vietnam increases it's exports to Japan by over 20%

Written By Views maker on June 06, 2009 | 6/06/2009

According to Vitas, Japan is now Vietnam's third largest garment export market, accounting for 9 percent of the country's total export revenue of US$820 million in 2008.

The turnover of Vietnam's garment exports to this market is expected to reach US$1.1 billion by 2010, up by 16.7 percent.

According to the Vietnam Textile and Apparel Association (Vitas), in the first five months of the year, Vietnam's garment export turnover to Japan hit nearly US$400 million, a 20 percent increase over the same period last year. The figure is expected to reach between US$900 million and US$1 billion for the whole year, up by 20 percent.

In addition, the Vietnam-Japan Economic Partnership Agreement (EPA) has helped to create a favourable business environment in various fields. Under the agreement, garments from Vietnam and other ASEAN countries exported to Japan have enjoyed a preferential tax rate of zero percent since earlier this year.

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