Vietnam's exports to U.S. to hit 29.4 bln USD in 2014: Amcham

The two-way trade between Vietnam and the United States is estimated to reach 34.9 billion U. S. dollars in 2014, of which Vietnam's exports to the United States would earn 29.4 billion dollars, according to the American Chamber of Commerce (Amcham) in Vietnam.

In its update report on forecast of the Vietnam-U.S. trade in 2014 and until 2020, Amcham readjusted the figures which are higher than those it released in July, local electronic daily Infonet reported on Tuesday, quoting Amcham as saying.

Out of Vietnam's export value to the United States this year, Amcham estimated that Vietnamese garment and textile exports would earn 9.8 billion dollars.

With Amcham's new forecast, Vietnam would increase its market share in the United States from 16.5 percent in 2013 to 22 percent in 2014, becoming the largest exporter among the ASEAN exporters to the United States, eventually surpassing Malaysia and Thailand.

With the upcoming signing and implementation of the trade agreements, including the Trans-Pacific Partnership (TPP) Agreement, the ASEAN Economic Community (AEC) 2015, the Vietnam-EU Free Trade Area (FTA) agreement, Vietnam would record a strong GDP growth in coming years, said Amcham.