WTO Boosts Footwear, Apparel Export Growth
Footwear, textile and garment exports have obtained high growth since Vietnam became an official member of the World Trade Organization (WTO) in January, said experts.
Local apparel and footwear could compete with products from other exporting countries, said Tran Huu Buu, deputy director of the International Cooperation Department of the Ministry of Industry.
Export tax reductions and non-quota shipments have made footwear, garment and textile exports grow immediately, as product shipments are increased in traditional markets and expanded to new ones, he said.
Textile and garment tariffs have been reduced to 13.7 per cent from 37.3 per cent, and the footwear tariff has fallen to 40 per cent from 50 per cent since January 11.
In the first two months this year, apparel shipments earned more than US$1 billion, a rise of 31.2 per cent on-year, and footwear exports gained US$660 million, up 23.6 per cent on-year.
The Vietnam Textile and Apparel Association (Vitas) said local companies moved to producing value added products, invested in modern technologies, improved management and expanded markets, bringing high growth to the sector.
The Vietnam Leather and Shoe Association (Lefaso) forecast the sector could show high growth this year despite a European Union (EU) anti-dumping lawsuit, because local shoes have penetrated many markets. (Saigon Times Daily)
Vietnamese
