Vietnam Shoe Enterprises Look Forward To More Opportunities For Signing TPP Agreement

Vietnam leather, footwear and bags Association (Lefaso) and representatives of the American footwear distributors retailer Association (FDRA) have recently met in Vietnam.

At the meeting, experts said that once the TPP agreement was signed, it would be Vietnam.

Industry exports to the United States bring great opportunities, because then Vietnam shoes exported to the United States Tariff almost zero.

Business representatives from the United States also said Vietnam has become their main manufacturing base in Asia.

Once the TPP agreement is reached, more and more enterprises will choose to invest in factories or purchase shoes products in Vietnam.

It is reported that Vietnam's wages are only 38% of China's. in some areas, Vietnam's labor force can basically achieve similar production efficiency.

Wolf claw International

ScottThomas also mentioned that his company is moving from China to Vietnam.

Thomas said that 75% of its supply came from China, but it will be reduced to 33% by 2020, and the rest of the supply will go to Vietnam.

Vietnam now provides 14.5% of the supply for the wolf claw international shoe industry.

For Vietnam, the footwear industry is its third largest export sector, generating $8 billion 500 million in revenue last year.

Nearly 600 companies employ more than 1 million 100 thousand workers directly, producing about 800 million pairs of shoes a year.

DiepThanhKiet, vice president of Lefaso, said Vietnam's footwear industry will also create a more solid supply base for raw materials and promote technological upgrading so as to make full use of the opportunities brought by the TPP agreement.

But according to China Leather net reporter, Vietnamese local enterprises are unable to produce basic raw materials for shoes making, such as

PVC, polyurethane and cloth.

Vietnamese companies still lag behind in marketing and skin development skills.