EU, China and Vietnam in shoe trade shuffle

14/10/2009 12:00 - 575 Views

European Union Trade Commissioner Catherine Ashton has recommended that penalty taxes on Chinese and Vietnamese shoe imports into Europe be extended by 15 months. Since October 2006, the EU has applied the penalties in response to dumping, in effect acting as fines for China and Vietnam exporting goods below production cost.

However, the European Footwear Alliance (EFA), which acts for a number of companies responsible for importing the foreign footwear, says members have already shelled out more than 800 million euros in taxes and want the duties scrapped.

An alliance statement read: “The EFA believes that the only legally justifiable and, indeed, sensible conclusion of the anti-dumping expiry review investigation is the complete termination of these duties.”

China is Europe’s second most valuable trade partner, so the issue has re-gained prominence as Chinese Vice President Xi Jinping met with commission chief Jose Manuel Barroso yesterday.

by Adeline Teoh Friday 9 October 2009 12:43 pm

Source: www.dynamicexport.com.au