The Ministry of Industry and Trade (MoTI) said it had drafted a plan for the purpose and would submit it for cabinet approval next week.

The force will be made up officials from MoTI, the General Department of Customs, Vietnam Textiles and Apparel Association (Vitas), and the Vietnam Chamber of Commerce and Industry.

Its main task will be to keep tabs on the volumes and prices of garment shipments to head off any sudden jump in exports or unreasonably low prices which could trigger anti-dumping lawsuits, particularly in the lucrative US market.

It will also inspect garment and textile exporters to ensure they do nothing to hurt the made-in-Vietnam brand name in the international market.

The MoIT expects the taskforce to provide it information on apparel exports so that it can make informed decisions on both promoting textile exports and avoiding dumping suits.

Vietnam’s apparel exports in the first eight months jumped 30 percent to US$5.1 billion.

In August alone, export earnings were $844 million, topping $800 million for the second straight month.

The US remained the largest importer, buying almost $3 billion worth products, a year-on-year jump of 20 percent and accounting for 60 percent of Vietnam’s overall garment exports.

Le Quoc An, chairman of Vitas, said, however, that the exports did not show any signs of “unexpected highs” for the US side to use as a pretext for suing on dumping charges.

The US Department of Commerce began a surveillance of imports from Vietnam soon after lifting quotas following Vietnam's accession to the WTO last January.

The supervisory will remain in place for the duration of the present US administration until next January.

The industry has forecast exports for the whole year to grow by 25 percent $7.5 billion, fueled by Vietnam’s WTO membership which overthrew restrictive conditions by some major buyers markets.

Vitas suggested that exporters should avoid excessive dependence on the US because of the high risk of law suits and explore untapped markets like Japan and South Africa.

Source: Thanh Nien, TBKTVN