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Favourable winds for footwear exports
01
Apr '10
A recently held study shows that, disregarding the ongoing concerns about anti-dumping duties in the European Union (EU) market, the Vietnamese footwear industry is looking forward to mark this year with sizeable increase in its exports.

According to the survey, wherein 47 per cent of the footwear exporters intend to focus on the EU markets, around 90 per cent of them expect the exports to go up, this year.

It also follows from the survey that, 60 per cent of the footwear manufacturers will keep up with their quota for the year ahead.

While responding to the survey, many respondents did show their concern over the 10 per cent anti-dumping duty imposed by EU on goods manufactured in Vietnam, but at the same time they mentioned that the Chinese footwear is being taxed at 16 per cent and they have an advantage over China.

The country's footwear sector has many competitive advantages such as, profuse availability of raw materials, positive assistance following from the side of government and a large group of skilled suppliers with established original equipment manufacturer ability.

This perceptibly follows with several eminent international brands farming out their production to the suppliers in Vietnam. The country thus, has succeeded in establishing itself as the fifth-largest exporter of footwear, the world over.

In the first quarter of 2010, footwear exports have fetched revenues worth $1 billion, which is 10 per cent above the figures recorded for the corresponding period in the previous year.

As per the General Statistics Office, EU continues to be the prime importer of Vietnamese footwear with its turnover for the initial two months of this year touching $326 million, which forms 48 per cent of the entire export volume; US and Japan are next in the race.

Viet Nam Leather and Footwear Association (Lefaso) claimed that currently Vietnam is fourth amongst the world's top ten footwear exporters.

During 2009, total export's turnover from footwear came to about $4.8 billion, which is expected to rise by 17 per cent in this year to touch $5.6 billion.

Fibre2fashion News Desk - India

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