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Shoe-makers to slump under EU anti-dumping tax
21
Jul '08
Since May 2008, EU started levying anti-dumping taxes worth 16.5 percent on shoe imports from Macao.

This will add to the already strained international trade and case severe problems for manufacturers.

EU started imposing anti-dumping charges on footwear imports from China Mainland in 2008, inturn raising the prices of the products. Considering this, many orders shifted to Macao.

However, now that the one advantage had been taken away from the region, local shoe industry was in serious rut.

Statistics show that in the first five months of this year, the export value of the shoes made in Macao decreased by 51 percent than the same period of last year.

Besides, so far, nearly half of the shoes manufacturers, here, have closed down. Experts believe that many more are set to follow the suit.

Fibre2fashion News Desk - China

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