Footwear export pegged at $3.7bn covering new markets

30 Jan '06

1 min read

Vietnamese footwear export this year is targeted at $3.7 billion exporting to new markets, rather than relying on European markets, said Chairman of the Viet Nam Footwear and Leather Association, Nguyen Gia Thao.

European importers were shying off entering into new contracts, due to the uncertainty prevailing over outcome of the anti-dumping lawsuit of last July, against local importers.

Vietnamese footwear industry has evolved a strategy to make in roads into markets of some leading economies of the world including the US, Japan and Canada, said Thao.

Viet Nam shoe exports to America reached $620 million last year, contributing to more than one fourth of the country's total export revenue, as per figures of the Ministry of Trade (MoT).

Japan emerged as a very important market with exports recording a 75 per cent rise over last year.

Export of shoes to Canada too recorded a substantial increase.

As per MoT's guidelines, manufacturers should concentrate on medium-quality products as China heads in low-end segment.

It also recommended partnership ventures with global brands like Reebok, Nike and Adidas.

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