Ottawa (VNA) – As shifting tariff policies reshape global trade dynamics and force nations to diversify their markets to reduce dependence on a single destination, Vietnam's leather and footwear industry sought new opportunities at the Association of Footwear + Apparel (AFA) Canada expo held recently in Toronto.
This marked the first time Canada’s largest footwear and accessories exhibition hosted Vietnamese companies. This year event brought together 20 Vietnamese firms and hundreds of major Canadian industry players.
AFA Canada Director - Operations & Events Michelle Kofman highlighted the significance of Vietnam’s attendance, underscoring both business networking and knowledge exchange. This was an opportunity for the Canadian manufacturers and retailers to truly understand the scale and depth of Vietnam’s footwear industry.
Ongoing developments in the US are forcing many countries, including Canada, to reduce their heavy reliance on the American market, she added.
In the framework of the expo, the Vietnamese trade office in Canada in collaboration with the Vietnam Leather, Footwear and Handbag Association (LEFASO) organised a seminar to explore how both sides could capitalise on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to expand mutual market access and regional trade opportunities.
LEFASO General Secretary Phan Thi Thanh Xuan held that due to major changes in tariff policies, market diversification has become one of the government's objectives as well as a goal for the leather and footwear industry.
The North American market accounts for more than 40% of the industry's total export revenue and represents a crucial market, with the US as the largest destination. However, Xuan noted that Canada and Mexico, both CPTPP members, are seen as highly promising alternatives, adding boosting exports to markets with favourable trade agreement advantages is a key target for the sector.
AFA Canada, one of North America's most prestigious and large-scale trade exhibitions specialising in footwear, fashion, and accessories, attracted hundreds of global brands, international buyers, retail chains, and manufacturing and design units from numerous countries./.
VNA
