Vietnam must promote the trade of legally produced wood and avoid illegal sources to secure a firm foothold in the US furniture market, according to Chairman of the Vietnam Timber & Forest Products Association (VIFORES) Do Xuan Lap.
The export value of the wood processing and forestry sector was 2.18 billion USD in the second quarter of 2020, dropping 11.3 percent against the first quarter and 20 percent against the same period last year.
Vietnam is likely to reach its export turnover target of 11 billion USD from wood and forestry products this year as the main season for business is in the last six months of the year, according to an official of the Vietnam Timber and Forest Product Association (VIFORES).
Vietnam aims to raise its forest coverage to 41.6 percent and to earn 8.5–9 billion USD from exporting wood and forestry products while providing jobs to 25 million people in 2018.
Vietnam's wood industry is expected to gain a total export value of wood and wooden products of 7.7 billion USD for this year, higher than 7.1 billion USD in 2015.
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