UK Says OK to Vietnam

LONDON, UK (Jan 11 ) - Last year Vietnam was still included in the EU’s generalized system of preferences (GSP) for several products, even on shoes, whereas the apparel quotas were terminated. However, considering the strong competition from China, exports to the EU dropped sharply. Bicycle exports also decreased due to tariffs of 15.8 - 34.5 %, designed to discourage dumping. Meanwhile, United Kingdom's Ministry of Industry and Commerce, after a thorough investigation has decided to support Vietnam in shoe dumping suit. Vietnam's estimated export turnover to the UK in 2005 reached GBP 600 million, or US$ 1billion while its imports reached GBP 100 million or US$170 million, according to estimates put up by industry specialists. "Reportedly, the survey of a sample of Vietnamese firms found them to be further away than their Chinese counterparts from operating in a full market economy. This means that any duties which may be imposed will be larger for Vietnamese than Chinese suppliers - earlier rumours suggested the opposite," mentions the BFA (British Footwear Association) newsletter.