When the market is tight, the leather, footwear, and textile industries must adopt a new strategy.

DNHN - According to the Ministry of Industry and Trade, the textile and garment, footwear manufacturing, and wood industries are experiencing export market difficulties due to a decline in global demand.

In order to overcome these challenges and find new directions for businesses, the Ministry of Industry and Trade held a trade briefing on July 31 with the overseas Vietnamese Trade Office system, focusing on promoting exports for the textile, footwear, and wood industries under the theme "Expanding market connectivity and exploiting export opportunities for this industry".

According to the Ministry of Industry and Trade's web portal, the decrease in demand on the global market has had a significant impact on many industries, including textiles, footwear, wood, machinery, etc., mobile phones, and electronic components. The export turnover of these commodities has decreased substantially on key markets such as the United States and the European Union (EU). During the first seven months of 2023, for instance, the export turnover of wood and wood products decreased by more than 26%, the export of textile products decreased by more than 15%, and the export of footwear decreased by 17% in comparison to the same period the previous year. during the same period a year ago.

In the future, the European Union (EU) plans to implement numerous new regulations pertaining to sustainability, carbon emissions, the right to repair and recycle, human rights, and deforestation prevention. This will impact business exports, particularly in the footwear and textile manufacturing sectors. For instance, shoemakers are encouraged to reduce carbon emissions by employing energy conversion strategies such as installing solar panels. In order to promote recycling, the EU is also contemplating the application of Extended Manufacturers' Responsibility (EPR) to the textile industry throughout the region.

These regulations make it difficult for businesses in the textile, footwear, and wood industries to export their products under their own brand names, creating obstacles for these industries. The EU mandates that material collection, product handling, and recycling create export barriers.

In the difficult context of both domestic and international markets, the Ministry of Industry and Trade acknowledges that promoting trade remains an important and effective solution, contributing to the improvement of investment, export, and consumption via the support of production development, market expansion, and export promotion.

P.V (t/h)