Pakistan Tanning Association Welcomes The Central Bank's Interest Rate Cut

According to the Pakistan media (Daily Times) on Thursday, the leather industry welcomed the news of the Pakistan central bank's interest rate cut. They said that the cut in interest rates and the recent decline in international oil prices would significantly boost exports of leather and leather goods.

　　 Pakistan State Bank of Pakistan (SBP) recently announced a 50 basis point cut in interest rates. The monetary policy adjustment is not large, but it is really important for the leather industry.

The government should want to take advantage of this opportunity to improve. Export volume And increasing foreign exchange reserves will reduce the current account deficit. Pakistan Tanning Association (Pakistan Tanners Association, PTA), chairman of Hamid Zahur, expressed the hope that the government could review relevant policies soon and promote investment in manufacturing industry.

He also said that the export of leather and leather products has been weak in recent years, and has recently recovered due to the improvement of external environment. He urged the government to take advantage of the low international oil price and help the leather industry, especially export enterprises, by reducing the electricity tax.

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According to leatherbiz.com reported on Thursday, Vietnam Leather and Footwear Association (Lefaso) said that the number of footwear exported from Vietnam to the United Arab Emirates in recent years has been growing at an annual rate of 55%.

The Vietnamese delegation recently participated in the Dubai Footwear Expo 2014 held in the United Arab Emirates 2014 Footwear. The association said that only 7 footwear companies in Dubai were produced locally, with an annual output of 250 thousand pairs, mainly sandals. The purpose of this exhibition is to increase the export of footwear products to the UAE.

The United Arab Emirates imported $295 million in footwear in 2013, and the demand is expected to increase by about 5% a year, to 372 million US dollars by 2018.

China maintains a leading position in the United Arab Emirates footwear exports, accounting for 65% of the total market share. Most of the leather shoes come from Italy, and Vietnam's contribution is also increasing.

Vietnam footwear manufacturers said they met many potential customers at the exhibition, but the most important thing was that they understood the UAE's requirements for product quality, consumers' demand for taste and fashion trends and the import and export regulations of the UAE.