Business

Ample room for Vietnamese plastic exports to Australia

Room for growth is ample for Vietnamese plastic exports, as Australian demand has risen steadily in recent years.
Ample room for Vietnamese plastic exports to Australia ảnh 1Workers are working on the production line at a plastic bag factory of the HAPLAST JSC (Photo: VNA)
Hanoi (VNS/VNA) - Room for growth is ample for Vietnamese plastic exports, asAustralian demand has risen steadily in recent years.

TheVietnamese Trade Office in Australia (VTOA) reported that Vietnamese plasticexports to the country grew by over 11 percent between 2017 and 2021. In 2021, Vietnamtook revenue of nearly 87 million USD in plastic trade with Australia, up28.5 percent year-on-year.

Sincethe changing consumption habits in Australia are associated with a greaterpreference for convenience and ready-to-eat foods, the demand for plastic bagsused in the food industry is expected to hold steady, creating more roomfor Vietnamese plastic.

Additionally,Australian agricultural and food exports are forecast to continue to climb inthe short term thanks to free trade agreements, raising the demand for plasticbags in packaging. Vietnamese plastic is believed to benefit significantlyfrom this upward trend.

Notably,Australian states have planned to ban single-use plastic products by 2025. Thatmeans Vietnamese environment-friendly plastic will become more appealing to thecountry in the coming years, another good news for plasticexporters. 

TheVTOA underlined trade fairs as an effective channel allowing Vietnamese firmsto reach out to Australian partners. The organisation said it wouldhelp firms stay well-informed about Australia's trade fairs and tradeopportunities.

Italso said that it promoted Vietnamese firms to Australian partners anddeveloped plans to help these firms look for exclusive distributors in themarket.

Australiaconsumes over 3.5 million tonnes of plastic every year, 60 percent ofwhich comes from imported plastic. In 2021, the country imported 7.3 billion USDof plastic, up 18 percent compared to 2020./.
VNA
#Vietnamese plastic exports #Vietnamese Trade Office in Australia (VTOA) #plastic trade #ready-to-eat foods #Australia #Vietnam #Vietnam news #Vietnam News Agency Australia
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