Vietnam's joining the WTO. After accession to the WTO, as one of Vietnam's footwear industry focus on the development of products will receive government support.
Vietnam's total exports in 2006 reached 39.5 billion, up 22%, compared with this year's target of 4.8%. Shoes to become the country's export value of more than one billion U.S. dollars in eight categories of products. During this period, Vietnam's footwear exports reached 3.55 billion U.S. dollars, up 16.9% year on year. Although exports to the EU have fallen, but exports to the U.S. has seen a dramatic rise.
Vietnam joined the WTO, the tariff reduction commitments in the 106 tariff lines, reduction of 1,812 tariff items this year, down 44%. Vietnam Ministry of Finance Bureau of International Relations, said before the tax rate of 30% or more of the products will be tariff reduction, it will also bring more benefits to consumers.
The Vietnamese government that the export growth in 2007 to 17.5% increase over 2006. The Government will focus on expanding exports of footwear products, footwear industry to strengthen efforts to support and continue to expand exports and services markets. In 2007, as a WTO member, Vietnam will join efforts to seize opportunities and overcome the challenges of import and export activities. In particular, to fully observe the export activities of multilateral and bilateral obligations and commitments are properly implemented.
According to join the World Trade Organization (WTO) commitments, Vietnam will be the beginning of this year, the first of the 26 products reduced import tariffs to implement the system. Which relates to footwear, as well as sugar, beer, cosmetics, fiber products, ceramic tile, porcelain, glass, thermos, fans, some of auto parts, watches, processed meat, paper, household plastic products and towns.
Some investors expect the Vietnamese are now discussing the "business" time. Like 20 years ago as an opportunity to talk about China. 5 years later, Vietnam is likely to divert China's foreign investment, multinational giants like Brazil's investment experience prior to the transfer, as the economic slump, may become the next Vietnam, a "hypothetical competitor." Although this "imaginary" some shocking, but true for many Chinese companies sounded the "back" alarm.
For Vietnam's imminent accession to WTO, many companies already gaining momentum. As Vietnam's neighbor, China not only from his former allies in recent years found many opportunities in emerging markets, and become the main pioneer in the local market, from high tech to the necessities of life, almost all-encompassing. Compared with European and American counterparts, Chinese goods more affordable for the low-income country.
Meanwhile, the Vietnamese "WTO", with gradual tariff reduction process, to enter the Vietnamese footwear will continue to lower the cost to enter Vietnam will gain more market access, investment or footwear business in Vietnam and the Vietnamese business community will also receive an unprecedented business opportunities. At present, Guangdong has a number of local producers and Hong Kong companies have set up branch in Vietnam semicolon, direct investment and set up factories in Vietnam, in international trade rules to the extent permitted to avoid the risk of trade friction, while creating employment for the local Vietnamese opportunity to promote local economic development. I am an expert from China Auto Suppliers, usually analyzes all kind of industries situation, such as queen futon cover , pelmet curtain.
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