Footwear exports to Australia surge

In August alone, turnover was up 30% compared to August last year, posting a profit of nearly US$4 million for the month. Total turnover in the first eight months of 2006 was $23 million, an increase of 26% over the same period of 2005.

The Ministry of Trade expects that Vietnam's total footwear exports to Australia for 2006 will bring a record profit of $38-40 million, a year-on-year increase of 25-30%. This can be attributed in part to the reduction of Australia's footwear tariff from 17.5% to 12.5% from January 2005. The tariff level is due to fall again in January next year, this time to 7.5%.

Local sources say that Australia is fulfilling pledges made in the past to open its market for Vietnamese enterprises. However, the ministry warned that Vietnamese companies should study the Australian market thoroughly, as it mainly imported leather and sports shoes made to strict standards.

Source: Daily "Vietnam News"

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