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EU Will Cancel Vietnam Footwear GSP Treatment, Meng Shoe Industry Benefit
The EU will cancel the GSP treatment to Vietnam at the end of this year.
Vietnam and China are one of the main competitors of EU's footwear exports.
Europe has granted GSP to 176 underdeveloped countries, including Vietnam, to allow their products to enter the EU with low tariffs or tax-free.
Meng industry said it would make full use of this opportunity to attract factories from Taiwan, Hongkong and South Korea to Bangladesh to expand its footwear exports to the EU.
At present, the main obstacle to the development of Mencius footwear industry is 10% of raw material import tariffs and 15% of value-added tax.
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