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Portuguese footwear industry is the most benefited with the transatlantic partnership

Oct 27, 2014 Portugal
Portuguese footwear industry is the most benefited with the transatlantic partnership
A study sponsored by the Portuguese Government on the impacts of the Transatlantic Trade and Investment Partnership (TTIP) points out that the footwear industry is the sector in which the benefits of the agreement will be more significant

The Centre for Economic Policy Research (CEPR), commissioned by the Portuguese Government, with the support of the Portuguese Chamber of Commerce and Industry and the Luso-American Development Foundation, studied the impacts of the TTIP. The study points to an increase of Portuguese footwear exports to US in the order of 540% with the full implementation of the partnership agreement.

In 2013 Portugal exported 913 thousand pairs of shoes valued at 27 million euros to the United States. In the first eight months of 2014 exports have recorded a growth of footwear sales to that country of about 70% both in value and quantity. A full implementation of the partnership agreement could lead to an increase of Portuguese footwear exports to the United States of 8 million pairs and an increase of 250 million euros.

Fortunato Frederico, President of the Portuguese Footwear, Components and Leather Goods Manufacturers’ Association (APICCAPS), stated: "This is an agreement that we have been waiting for several years. We understand this is a complex agreement considering the topics involved and of unprecedented range, but our interest is focused on the elimination of tariffs as soon as possible ". The footwear sector presents a very peculiar situation because unlikely other industries, customs’ barriers are still significant and non-tariff barriers are significantly reduced. On top of that, the United States also have very significant tariff peaks for some products within the footwear sector.

Related Organizations

  • CTIC – Portuguese Leather Technology Centre

    CTIC – Portuguese Leather Technology Centre

    Portugal
  • APIC - Portuguese Leather Industry Association

    APIC - Portuguese Leather Industry Association

    Portugal
  • Shoe Museum (Portugal)

    Shoe Museum (Portugal)

    Portugal
  • CTCP - Portuguese Footwear Technological Centre

    CTCP - Portuguese Footwear Technological Centre

    Portugal