Vietnam exported over 121 million USD worth of footwear products to Brazil in the first six months of this year, up 55 percent from the same period last year.
This is an impressive increase for the sector, considering the global financial crisis has had an adverse effect on consumer demand and the quantities of goods imported by many countries.
According to economic experts, the extent that Vietnamese footwear has penetrated the Brazilian market will create an opportunity for Vietnamese exporters to expand their operations in other markets in the South American region.
Commentators also highlighted the opportunity and potential for Vietnam to continue exporting its footwear products to Brazil in the future, as recently the country removed Vietnamese footwear from the list of commodities on which anti-dumping taxes are imposed.
They said that this action will help Vietnamese businesses expand their export markets in the country.
Brazil is now one of the five biggest manufacturing and exporting countries in the world. It has also just decided to impose a 182 percent tax on Chinese footwear exports to limit the amount of footwear imports into the country.
Vietnamese footwear exporters should take advantage of this opportunity to establish an even larger market share in Brazil , say economic analysts./.