Happy days are back for Vietnamese footwear manufacturers as European Commission is planning to impose quota system on footwear imports from China and Vietnam instead of anti-dumping duties.
Vietnamese and Chinese footwear makers will have to pay 7.5 percent tax on first 95 million pairs of shoes and 140 million pairs of shoes, respectively under EC's proposal.
On the other hand, EC officials argued that without any anti-dumping duties only quotas mechanism would be useless for EU markets as EC extends quota limit annually.
While Vietnamese exporters say that with quota system country's export will be stagnant as after crossing quota limit they have to pay higher taxes.
Ministry of Trade and the Vietnam Leather and Footwear Association (Lefaso) is planning to discuss this issue with EC for favorable outcome.
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