In October 2006, the European Commission (EC) decided to impose the 10 percent taxes on the products imported from Vietnam for two years.
Later, the EC continued to extend the tariffs for another 15 months from February 31, 2009. The decision reduced Vietnam’s share in the EU market from 15 percent in 2005 to 10 percent in 2009. The EU’s removal of anti-dumping duties will open up many opportunities for Vietnam’s leather and footwear businesses to continue expanding their shares in the EU market.
In 2011, thanks to the EU’s decision, Vietnam’s leather and footwear sector expects to earn an export turnover of US$5.5 billion, against US$5.3 billion last year.
