If reports received from the Shoes and Leather Association of Ho Chi Minh city are to be believed then, in the coming days, the footwear industry of the country is going to face grave situation.
EU has decided to review the Preferential Trade Agreements with Vietnam. The EC is apparently considering removing Generalized System of Preferences (GSP) after the anti–dumping lawsuit has been filed for nearly one year.
Presently, in the EU region, Vietnam acquires a market share of 19.9 percent, which, according to the terms and condition of the EU's GSP, should be at the most 15 percent.
However, the final decision will be taken by EC on January 1, 2009, disclosed the association official.
Fibre2fashion News Desk - Vietnam
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