Vietnamplus

Vietnam aims for a growth at 5-5.5 percent each year in forestry production in the 2021-2025 period, according to a Government resolution approving the investment policy for the sustainable forestry development programme in the next five years.

Exports of wood and timber products to the EU totalled 314 million USD in the first half of 2021, a 36.4 percent increase from the same period last year.

Vietnam is aiming to build a transparent and legal wood industry to support exports of timber products and bolster the domestic timber manufacturing industry.

Whether Vietnamese enterprises can cash on the opportunity brought by the CPTPP to increase exports of garments, footwear, timber products, and beverages depends on their preparation, experts said.

Vietnam recorded a trade surplus of 930 million USD with Japan in the first eight months of 2019.

Forestry exports reached 7.08 billion USD in the first eight months of 2019, a year-on-year rise of 18.6 percent.

The forestry industry gained a trade surplus of over 4.57 billion USD in the first seven months of this year, according to the Vietnam Administration of Forestry (VNFOREST) under the Ministry of Agriculture and Rural Development.

Vietnam and the European Union (EU) last week signed a landmark free trade deal that will slash tariffs on almost all goods, including wood and timber products. It is expected to give Vietnamese wood exporters better market access and more opportunities to expand their business.

Experts have discussed promoting legal timber products in public procurement in Vietnam at a conference in Hanoi on June 19.

More than 10 key agricultural products of Vietnam are being sold across 160 countries and territories worldwide.

Vietnam’s exports of wood and timber products in the first quarter of this year reached 2.3 billion USD, up 15.6 percent year-on-year, the Ministry of Agriculture and Rural Development reported.

Countries joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are potential markets for Vietnamese wood firms, said Nguyen Ton Quyen, Vice Chairman of the Vietnam Timber and Forest Products Association.

Trade between Vietnam and South Africa is expected to reach 2 billion USD at the end of 2019, heard a recent workshop in the central city of Hue.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to create opportunities for Vietnam to expand markets for major exports like wood and timber products, and seafood.

Vietnam’s exports to the UK in the first half of 2018 were seven times higher than imports, resulting in a surplus of 2.34 billion USD, according to the General Department of Vietnam Customs.

Vietnam has exported timber products directly to 120 countries and territories instead of having to go through a transit market like China’s Taiwan, Singapore and the Republic of Korea (RoK) to export to the third country.

The tax incentive mechanism of the EU-Vietnam Free Trade Agreement (EVFTA) will bring great benefits to Vietnamese industries and products, according to Minister of Industry and Trade Tran Tuan Anh.

Besides traditional markets such as the US, EU and Japan, Vietnamese enterprises should make inroads into the Middle East market, according to experts.

The Vietnam International Furniture and Home Accessories Fair (VIFA-EXPO) returned to Ho Chi Minh City on its 11th edition, bringing together 350 domestic and foreign exhibitors.

Vietnam exported wood and timber products worth 1.48 billion USD to 38 markets in the first two months of 2018, a year-on-year rise of 38.3 percent.