Footwear, handbag sector targets export revenue of 24 billion USD
(VOVWORLD) - Trade tensions between the US and China as well as among the US and other trading partners in Europe and with India will likely reduce, thus making the global economy to recover.
The footwear and handbag industry aims to reach export revenue of 24 billion USD in 2020, after hitting 22 billion USD last year, Lefaso said. (Photo: VNA)
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Phan Thi Thanh Xuan, Secretary General of the Vietnam Leather, Footwear and Handbag Association (Lefaso), has recently made the remark, urging footwear and handbag firms to take advantage of opportunities from free trade agreements to replace the reduction of China’s exports.
FDI enterprises should continue to invest in production expansion to maintain export growth.
According to Lefaso, the consumption demands in Vietnam’s major import markets are forecast to grow this year with the industrial production index rising 11%, localization rate being 60%, and export revenue reaching 24 billion USD in 2020.