|Sport shoes are made by workers at Huu Nghi Da Nang Joint Stock Co. The country's footwear exports have risen 22 per cent year-on-year in the first four months to US$2.85 billion, driven by increases in exports to traditional markets. — VNA/VNS Photo Le Lam
HA NOI (VNS) — Viet Nam has great opportunities to increase leather and footwear exports by this year end, according to experts.
The Ministry of Industry and Trade (MoIT) announced that the leather and footwear exports of Viet Nam in the first four months of this year has gained a year-on-year increase of 22 per cent to US$2.85 billion because exports of these products to traditional markets such as the US, Japan and the EU has had a sharp increase.
Vietnamese footwear products to some small markets in the East Europe and South America also surged sharply, the ministry noted.
The exports to these markets are stable at present, the ministry stated. Therefore, many leather and footwear export enterprises so far have export contracts until August. The enterprises have promoted cooperation to increase localisation rates of export products.
The Viet Nam Leather and Footwear Association said that the leather and footwear industries have chances of increasing exports because of advantages in markets, preferential tax and the Trans Pacific Partnership agreement that is expected to be signed this year.
The association added that the enterprises should have specific production and business plans and upgrade production technology and line to avail the opportunities of increasing exports.
The enterprises should shift their marketing activities based on market research and increase trade promotion activities, the association suggested.
According to the MoIT, the world has a trend of changing from wooden interior products to leather interior products, so that is a great chance for the local leather and footwear export business. Thus, the enterprises should improve management ability, build trademark and develop key export products to obtain economic efficiency at a maximum level.
The footwear industry is strolling towards an export target of $12 billion for this year.
The industry's export turnover was $10.3 billion in 2013, up 18 per cent from the previous year. — VNS