Vietnam steps up US footwear exports
From January to May 2002, the export of footwear from Vietnam reached $780 million, an increase of 10.1% on the year before. It is hoped that for the full year, the increase will exceed 18%.
At present, there are 300 shoe-making enterprises across the country, with most of their export production going to the European Union, the USA, Japan, Canada, China and Australia. In order to reduce dependence on foreign suppliers, the Vietnamese government provides certain preferential measures for domestic component producers and the government actively encourages foreign investors to set up shoe factories in the country.
Vietnam enjoys long-term preferential benefits with the European Union while the country's trade relations with the US have been considerably enhanced by a trade agreement between the two countries that came into effect on January 1 2002. It is envisaged that $ 1.8 to $1.9 billion worth of shoes will be exported to the USA this year.
