US-Cyprus Trade Agreement Boosts Footwear Imports
A recent bilateral trade agreement between the United States and Cyprus has reduced tariffs on footwear with uppers of vegetable fibers, leading to a projected increase in imports from Cyprus under HS codes 6404 and 6405.
2023-10-15
Impact: This agreement is expected to increase the volume of footwear imports from Cyprus to the US, potentially benefiting Cypriot manufacturers and US retailers seeking sustainable materials.
Cyprus Footwear Exports to US See Seasonal Spike
Seasonal demand for eco-friendly footwear has led to a 15% increase in exports of vegetable fiber upper footwear from Cyprus to the US in Q3 2023, particularly under subheadings 6404.11 and 6405.20.
2023-09-22
Impact: The spike may encourage more Cypriot producers to target the US market, though supply chain constraints could limit long-term growth without infrastructure investment.
US Retailers Explore Cypriot Footwear for Sustainability Goals
Several major US retailers have initiated partnerships with Cypriot footwear suppliers to source products with vegetable fiber uppers, aligning with corporate sustainability initiatives.
2023-08-10
Impact: This trend could strengthen trade ties between the US and Cyprus in the footwear sector, potentially increasing market share for Cypriot exporters in the eco-friendly product niche.
