To create a linkable banner add, add a link with an uploaded image URL to display an image or insert your ads HTML markup to display as your ads. Below is an example:-

Five-month footwear export earnings up 11.4 percent VNTimes


Vietnam earned 3.1 billion USD in footwear export in the first fivemonths of this year, a year-on-year increase of 11.4 percent, accordingto the General Statistics Office.

Last month alone,export turnover reached 750 million USD due to the stability oftraditional export markets and increasing orders from new importers.

In the first four months of the year, the industry enjoyed high exportturnover from its traditional markets. The US took the lead withturnover of 755 million USD, followed by the UK with 149 million USD,Belgium with 140 million USD, Japan with 121 million USD and Chinawith 114 million USD.

Shoe producers had stable orders, with many big enterprises receiving orders for up to the third quarter.

According to the Vietnam Leather and Footwear Association (LEFASO),the Trans-Pacific Partnership Agreement (TPP) negotiations would bringabout opportunities for the Vietnamese leather and footwear industry topenetrate the large market.

The association addedthat Vietnam 's leather and footwear products would enjoypreferential tax of zero percent, reduced from the current 14.3 percent.This would help Vietnamese shoe enterprises to increase theircompetitiveness over other big shoe exporters that were not TPP members.

In addition, the products would be subject toGeneralised System of Preferences (GSP) taxes in the EU market from thebeginning of next year.

EU taxes would be zero percent when the Free Trade Agreement (FTA) between Vietnam and the EU came into effect.

Several British and German shoe importers, therefore, have been searching for business opportunities in Vietnam .

However, the association said the TPP would also bring aboutchallenges for Vietnam 's shoes industry, as the agreement has acompulsory localisation rate for raw materials.

Domestic businesses have a low localisation rate of 40 percent, as the industry depends highly on imported materials.

The Ministry of Industry and Trade encouraged footwear businesses toincrease their investment in material production, modern andenvironmentally friendly technologies.

The countryaimed to reach an export turnover of 9.7 billion USD this year, up 10percent over last year. Shoe export alone is expected to gain 8 billionUSD.

It also aims by 2020 to be one of the world's top-five producers and exporters of footwear.-VNA

Get VietNam News

Post a Comment

Powered by Blogger.
To create a link able banner ads, add a link with an uploaded image URL to display an image or insert your ads HTML markup to display as your ads. Below is an example:-

© VNTimes