While the move appeased American textile manufacturers, it disappointed retailers who were looking for sourcing alternatives to China.

One solution for Vietnam would be to join the WTO, which would give the country broader access to the global textile market. Membership in the WTO would rescind quotas on Vietnam's textile and apparel exports.

Negotiations over WTO accession for Vietnam are scheduled for April.

In the meantime, the country's growing trade volumes are prompting further development of existing infrastructure. Specifically, container handling operations at Vietnam's main Port of Haiphong is set to improve with new construction that begins this Spring.

The $126 million upgrade is being financed by the Japanese Bank for International Cooperation.

The port, which is located in the northern part of the country, serves the capital city of Hanoi, while Vietnam's Port of Saigon serves as the southern commercial hub for Ho Chi Minh City.