Consumer & Retail

Vietnam - Turkey extends tariffs on Vietnamese shoes

Source: Asia Pulse, 18 March 2010

Turkey's Foreign Trade Department has announced an extension of safeguard measures on three categories of Vietnamese shoe imports over the next three years. The decision was made by the department in mid-February, according to a report officially released on the website of the Vietnam Competition Authority under the Ministry of Industry and Trade.

From 10 August 2009 to 9 August 2012, Shoes shipped to Turkey would be faced with the safeguards, which would gradually decrease over the three-year period. Vietnam has faced trade safeguard measures on shoes from two other countries besides Turkey and these include the EU imposed anti-dumping tariffs on leather shoes, and Peru imposed anti-dumping duties on shoes made out of fabric.

China - Immense potential in yachting industry

Source: China Daily, 20 March 2010

China's industrial regulators and officials said yachting, a synonym of luxury for flamboyant wealthy people, may become an increasingly viable option for Chinese people's leisure life. Haikou Mayor Xu Tangxian said that yachting will become a thriving recreational activity in China in the coming few years. Industrial analysts have predicted China's yacht market may grow as fast as its automobile market.

Various luxury brands, including yachts, are enjoying huge growth in China. But compared to the highly prosperous automobile market, yachts are still a young industry and its target customers remain small in number. Therefore, it promises a huge potential. Haikou will build 1,000 wharves for the pleasure vessels in the next 10 years, with 400 expected to be complete by the end of 2010.

Indonesia - Furniture makers frowned at imports from China

Source: Asia Pulse, 23 March 2010

Losing out in market competition, a growing number of Indonesian producers of furniture chose to become importers of furniture products from China. An influx of cheap products from China, now enjoying a 25% share of the domestic market, caused great concern for local producer, the association of furniture companies said. The concern intensified when the Asean-China Free Trade Agreement became effective in January 2010.

Around 50 medium and large producers have relied more for profit on trading imported Chinese furniture to be sold on the domestic market. In 2009, furniture imports from China were valued at US$87.5 million and this year the value is forecast to rise to US$137.5 million. Last year, sales of furniture and handicraft in Indonesia were valued at around US$350 million and it is expected to rise to US$550 million this year.

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