Vietnamese, US footwear firms to discuss trade amid pandemic

An online trade exchange is slated to be held from May 28-30 with the participation of 60 footwear importers from the US, according to the Ministry of Industry and Trade (MoIT).

 

The event is expected to draw between 60-80 domestic footwear enterprises.

 

The MoIT said the exchange aims to help domestic footwear producers promote exports to the US. It will also act as a platform to provide updated information on the US footwear market in the context of the COVID-19 pandemic.

 

During the event, enterprises from the two nations will be able to learn about the other side’s needs and capacities, seize cooperative opportunities, and respond to trade and market developments as demand for footwear in the US is predicted to rebound once the COVID-19 pandemic subsides.

 

They will be also able to assess export prospects and adaptability, as well as Vietnam’s plans for developing the footwear industry.

 

Last year was as a successful year for Vietnam’s footwear exports were worth 18.3 billion USD, up 13 percent year-on-year. Last year, the US imported the largest share of Vietnamese footwear products with a value of 6.65 billion USD, a yearly hike of 14.2 percent.

 

With a turnover of 1.56 billion USD, the US retained its crown as the leading consumer of footwear products from Vietnam in the first quarter of 2020, surging 10 percent over the same period last year.

 

 

Source: Vietnam News Agency

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