Footwear exporters expect to surpass this year’s plan of US$9.7 billion, as Japanese importers are shifting their orders to Viet Nam.
Export value from Vietnamese leather and footwear products will increase sharply when the Trans-Pacific Partnership (TPP) agreement and the Viet Nam-EU Free Trade Agreement (FTA) are signed, stated the Viet Nam Leather and Footwear Association (Lefaso).
TPP and FTA will reduce tax rate to 0%, which makes Viet Nam’s products more competitive than the ones made by India and China.
Lefaso’s statistics showed that revenues from leather and footwear exports were estimated at more than US$3.99 billion in the first half of 2013, a year-on-year increase of 14%.
Turnover of leather and footwear to the US was highest with US$1.27 billion, accounting for 32%.
Export of handbags and suitcases achieved US$911 million, grown by 22% in the first half with, including US$391 million from the US, which showed a 30% up from the same period last year./.