Vietnam expects exports of leather and shoes to grow by 10 percent this year to $18 billion, according to the Vietnamese leather shoe and bag industry association.With many opportunities to help Vietnam’s leather industry expand exports, China is reducing its investment in footwear and apparel labor-intensive industries, focusing on the high-tech sector.
Vietnam’s eu free trade agreement is expected to come into force in 2018, meaning Vietnamese footwear producers will have more opportunities to export to the European Union.
Vietnam leather shoe industry association, said to attain his goal in leather industry exports this year, Vietnam need to promote technology innovation ability, into buying more sophisticated equipment, update existing production lines, increase production and improve product quality.
Leather industry export raised $16.2 billion in revenue last year, 8.8% higher than that of 2015, among them, the footwear exports to $13 billion, the rest for the leather products export, bags and leather exports increased by 8.8% and 8.8% respectively.
Last year there were also challenges to exports to the leather industry in Vietnam, such as a reduction in orders from the European Union and turmoil in asean countries. Since the import and export duties of the asean countries’ footwear and leather bags have been reduced to zero since 2016, market competition in the region has been intensified.
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