Red Sea tension likely to affect garment and footwear exporters from Q2: insiders

By VNA   January 21, 2024 | 02:11 pm GMT+7

Red Sea tension likely to affect garment and footwear exporters from Q2: insiders

Workers at a garment factory in HCMC’s Thu Duc City, November 2023. Photo by VnExpress/Thanh Tung

The tension in the Red Sea, which has led to increases in logistic costs and shipping time, is forecast to affect Vietnamese exporters of garment, textile, footwear and leather products from the second quarter of 2024 if it persists.

The Vietnam Leather, Footwear and Handbag Association (Lefaso) and the Vietnam Textile and Apparel Association (VITAS) Vice President and General Secretary Truong Van Cam said that domestic enterprises are keeping a close eye on the situation to negotiate new export deals.

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The Blue Security Program engages with and facilitates high quality research on issues of critical maritime security across the Indo-Pacific.

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Blue Security is a collaboration between La Trobe Asia, Griffith Asia Institute (GAI), University of New South Wales Canberra (ADFA), University of Western Australia’s Defence and Security Institute (DSI), United States Studies Centre at the University of Sydney and the Asia-Pacific Development, Diplomacy & Defence Dialogue (AP4D). It produces working papers, commentaries, and scholarly publications related to maritime security for audiences across the Indo-Pacific.

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