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Related Keywords: between US and VIetnam, bilateral trade expands from zero, Diplomatic ties, end of this financial year, hit USD forty billion, MoIT, purchasing garments, TPP favourable conditions for Vietnamese exports, US becomes largest importer of Vietnam, US remains top market, VietnNam fifth largest garment-textile exporter

With Vietnam and the US normalizing their diplomatic ties, the bilateral trade between the two countries has expanded from zero to US$36.3 billion in 2014. This figure is further expected to reach $40 billion by the end of this financial year.

Nguyen Duy Khien, head of the American Market Department under the Ministry of Industry and Trade (MoIT), said that Vietnam shipped $30.6 billion worth of goods to the US in 2014, up 24 per cent against the previous year.

Related Keywords: changing Chinese import policy, Confederation of Indian Textile Industry, create conducive environment, end of this financial year, free trade agreement with Eurozone, Increase in exports of garments, Indian textile industry, made-ups and apparels, revival of demand in Europe and US market, South Indian Mills Association, surplus stocks

The Indian textile industry wants the government to create a conducive environment as they see a revival of demand in Europe and US markets by the end of this financial year for which the sector is not adequately prepared to grab the opportunity.