Vinatex, Vietnam's largest textile exporter, has blamed high US tariffs on its below par performance in the US market this year.

The Vietnam Garment and Textile Corporation had hoped to make a major breakthrough into the US market but was held to exporting just $70m from the company's worldwide export total of $1.9bn into the US.

Despite making losses or just breaking even, many of the Vinatex subsidiaries are keen to keep plugging the US market in preparation for the launch of the Normal Trade Agreement between the US and Vietnam.

Industry officials are hoping that with the removal of the import quotas, the Vietnamese textile industry will be able to reach import targets of between $300m and $400m, $100m of which should be claimed by Vinatex.

The company has been preparing for the launch of the Normal Trade Agreement with a $20m investment in the building of a new spinning mill that will produce around 2,000 tones of yarn per year for distribution around its textile mills.