Revaluation of Brazilian currency against the US Dollar and cutthroat competition from Chinese exporters has put the sector in crisis, says President of Brazilian footwear trade association (Associação Brasileira da Indústria de Calçados) (Abicalçados), Élcio Jacometti.
Brazilian footwear makers are unable to manufacture shoes that are sold within Brazil pricing US $0.50 a pair, the price which is less than what shoelaces cost, grumbles Jacometti while negotiating the issue with President Luiz Inácio Lula da Silva and other authorities in Brasilia this week.
Government has come to rescue the sector announcing credit, and Brazilian Custom Department would take strict measures to curb imports of under-priced Chinese exports.
A work group would study tax exemptions on machinery and equipment for the footwear sector, reported local media.
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