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Footwear continues to face challenges

12
Mar '07
Vietnamese footwear industry earned $280 million from exports in February 2007, posting a year–on–year increase of 30.8 percent, according to Vietnam Leather and Shoes Association (Lefaso) sources.

Export of bags, suitcases, hats and umbrellas sky–rocketed 42.9 percent to $40 million as against same period 2006.

Despite achieving good results, footwear sector continues to face tough challenges like competition, unemployment and ten percent anti–dumping duty imposed by EU.

Lefaso officials have advised local footwear firms to change their business and production methods for value added goods according to market trends and demand.

Footwear sector should also diversify its export market instead of concentrating on a single destination like EU to minimize risk.

Fibre2fashion News Desk - Vietnam


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