EU forest pact gives Vietnam timber firms a leg up

Once the EU-Vietnam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade comes into force, there will be opportunities for Vietnam to export more wooden products to Europe and other markets.
EU forest pact gives Vietnam timber firms a leg up ảnh 1Illustrative photo (Photo: sggp.org.vn)
HCMCity (VNA) - Once the EU-Vietnam Voluntary Partnership Agreement onForest Law Enforcement, Governance and Trade (VPA-FLEGT) comes into force,there will be opportunities for Vietnam to export more wooden products toEurope and other markets, delegates told a seminar in HCM City on June 13.

AVPA is a voluntary trade agreement between the EU and countries making woodenproducts to promote trade in legal timber and ensure only legally harvestedtimber is imported into the EU from these countries.

Vietnamand EU concluded VPA negotiations last month.

Accordingto delegates, the forest pact would increase the competitiveness of Vietnamesetimber products compared to those from countries that do not have much controlover the forestry sector.

Speakingat a seminar on promoting furniture and handicraft exports to European market,Jana Herceg, deputy head of the trade and economic section of the Delegation ofthe European Union to Vietnam, said Vietnam is the second country in ASEANafter Indonesia to conclude this agreement.

Sowhen the VPA-FLEGT agreement takes effect, it would further boost the export offurniture products, she said.

Europeanconsumers want to know about labour conditions and corporate socialresponsibility standards, she said.

IfVietnamese companies understand consumers demand and meet these conditions,they have the opportunity to boost exports to Europe, she said.

Topenetrate the market, good quality is the first thing firms need to have, shesaid.

“Onceyou have the products you have to make sure that people know about yourproducts, you need to have good marketing and good branding.”

BuiThi Viet Anh of the Institute of Policy and Strategy for Agriculture and RuralDevelopment said VPA-FLEGT certificates would help increase opportunities toexport to other important markets.

Butthe process is relatively complicated, and increases costs and administrativeprocedures in Vietnam, she said.

Enterprisesalso face trade barriers and intense competition from other exporters to themarket, which require them to improve quality, access to information andcompetitiveness.

Theyneed to ensure legal timber sources by increasing import of raw materials fromlow-risk countries, connecting with importers in developed countries, andinvesting in timber growing in Vietnam, she said.

NguyenChanh Phuong, deputy chairman of the Handicrafts and Wood Industry Associationof HCM City, said besides branding, product design and price are two importantfactors in the competitiveness of the wooden sector.

Europeanconsumers’ habits are changing, and exporters need to catch up on these trends,he said.

JohannesSchwegler of the Swiss Import Promotion Programme said there is an emergingtrend of using laminated flooring and bamboo products as substitutes fortropical timber because of their environmental-friendliness and technicalproperties.

Solidwood-based products, which are the strength of Vietnamese firms, still haveopportunities for growth, but Vietnamese firms should keep abreast of markettrends, he said.

Bui Thi Thanh An, deputy director general of Vietnam Trade Promotion Agency,said exports of wood and wooden products were worth nearly 7 billion USD lastyear.

TheEU is currently the fourth largest importer of Vietnamese wood and woodproducts. It is also one of Vietnam’s timber suppliers.

Prospectsfor exporting furniture to the EU this year are good, she added.-VNA
VNA

See more

Loading and unloading steel products at Hoang Dieu–Chua Ve Port, Hai Phong city (Photo: VNA)

Hai Phong city seeks to boost inland waterway transport

According to the Hai Phong Maritime Administration, inland waterways carry coal, agricultural products, ores, stone, cement and other bulk cargoes, helping ease pressure on roads, particularly those connecting seaports and industrial parks.

Speakers at the conference (from left): AVPI Advisory Board Chair Dr Le Thu Huong, Australian Ambassador to Vietnam Gillian Bird, and Vietnamese Consul General in Sydney Nguyen Thanh Tung. (Photo: VNA)

Vietnam, Australia turn momentum into practical cooperation

Vietnam and Australia should focus on promoting two-way investment, expanding cooperation linked to APEC 2027 and making better use of people-to-people connections. Vietnam needs capital, skills, technology, infrastructure, and energy transition expertise - areas where Australia could offer valuable support.

The interface of the National E-Procurement System. (Photo: muasamcong.mpi.gov.vn)

Vietnam to move PPP bidding online from 2027

From January 1, 2027, PPP project proposals must be submitted through the National E-Procurement System. From September 1, 2027, investor selection for PPP projects tendered through open bidding will move fully online.

An automated robot-based production line at CAYI Technology Vietnam Co., Ltd. in Yen Phong II-C Industrial Park, Bac Ninh city (Photo: VNA)

EuroCham: Business Confidence Index in Vietnam remains high at 78.3 in Q3

The survey found that 64% of respondents described their current business conditions as good or very good, while 28% maintained a neutral or cautious outlook, reflecting a wait-and-see attitude as international demand remains flat and businesses look for policy momentum to translate into faster procedures and more predictable outcomes.

Workers manufacture handheld power tools at the Keystone Electrical Vietnam factory in Lien Ha Thai Industrial Park, Thai Thuy commune, Hung Yen province (Photo: VNA)

Vietnam seeks to turn FDI inflows into domestic value added

Vietnam is shifting its FDI attraction strategy from expanding investment volumes to prioritising capital inflows that brings technology, knowledge, modern management practices and stronger links with domestic businesses, particularly in semiconductors, artificial intelligence (AI), chips and renewable energy.

At Yadea Vietnam’s smart manufacturing plant in Tan Hung Industrial Park, Bac Ninh province (Photo: VNA)

Vietnam ties FDI incentives to local supplier commitments

Incentives will increasingly hinge on investors’ performance and commitments, not just on landing projects. Key commitments include transferring technology to Vietnamese firms, training workers, providing technical support and opening FDI supply chains to domestic companies.

Green SM has launched all-electric taxi service in the US. (Illustrative photo: VNA)

Green SM launches all-electric taxi service in US

The move brings Green SM into one of the world’s most dynamic and demanding markets. It also marks another step in the international expansion of the Vietnamese mobility brand, following its rapid growth across markets in Asia and Europe.

An overview of the meeting between IMF Managing Director Kristalina Georgieva and ASEAN Finance Ministers and Central Bank Governors (Photo: VNA)

Vietnam strengthens financial cooperation at IMF-World Bank annual meetings

The Vietnamese Governor underscored the complementary roles of global and regional financial cooperation mechanisms, including the Chiang Mai Initiative Multilateralisation (CMIM) and the ASEAN+3 Macroeconomic Research Office (AMRO). He also highlighted the importance of technical assistance in fintech, digital transformation, cybersecurity and risk management.

Representatives of the organising committee at the opening ceremony of the fair (Photo: VNA)

Vietnam-Cambodia trade expo promotes bilateral economic cooperation

The Vietnam-Cambodia Business Networking and Product Promotion Exposition has become a key trade promotion event, creating business and investment opportunities while strengthening mutual understanding and trust between the two countries’ armies, people and enterprises.