HA NOI — Footwear, one of Viet Nam's key hard currency earners in the European Union (EU), looks to benefits it will reap from the General Scheme of Preferences (GSP) offered by the market in 2014-16.

According to the Ministry of Industry and Trade, the European Commission has officially resumed GSP for Vietnamese footwear after ceasing it for five years.

The EU's decision, which will become effective from January 1, 2014, will allow Vietnamese footwear to re-enjoy duty preferences in the EU market.

Viet Nam is now the second largest footwear supplier to the EU market after China. — VNS