Vietnamplus

Overseas shipments within the first seven months of 2022 earned more than 14 billion USD for the leather and footwear sector, an annual increase of 13%.

The UK-Vietnam Free Trade Agreement (UKVFTA), which took effect in early 2021, has so far brought about positive outcomes for both countries, Deputy Director General Ngo Chung Khanh of the Ministry of Industry and Trade’s Multilateral Trade Policy Department has affirmed.

Recent rumours spreading on social media on Nike’s moving production out of Vietnam to China and Indonesia are incorrect, stated Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary of the Vietnam Leather and Footwear Association (Lefaso).

Domestic leather and footwear firms have no choice but to convert their production activities as difficulties are expected to linger through this year due to the impact of the COVID-19 pandemic, experts have said.

The COVID-19 pandemic will continue creating trouble for the leather-footwear sector in Europe and the US – its key markets for export, in 2021, the Sai Gon Giai phong newspaper reported, citing experts’ opinions.

Vietnamese exporters, especially newcomers, must observe export regulations set by the European Union (EU).

Vice President of the Lefaso revealed that many domestic leather and footwear enterprises have created collections and designs to offer to their customers, rather than depending on their partners.