Wood, timber product exports to hit 8 billion USD
Wood, timber product exports to hit 8 billion USD (Photo: VNA)
The export of wood and
timber products is forecast to bring home 8 billion USD in 2017, heard a
workshop in Hanoi on October 5.
The strong growth of wood export was seen in almost traditional and key markets
such as the US, Japan, the EU, China and the
Republic of Korea. The value of exports to the five markets makes up nearly 90
percent of the total export turnover of Vietnamese wood and timber products, said
Vice President and General Secretary of Vietnam Timber and Forest Product
Association (VIFORES) Nguyen Ton Quyen.
However, there will be changes in policies of
the Republic of Korea and Japan to tighten the management of imported wood
products, he said, adding that this will directly impact on Vietnam’s exports
to the markets.
Apart from domestic wood, Vietnam imports a large amount of wood material worth
1.7-1.8 billion USD annually, equivalent to about 20-30 percent of the export
In May 2017, after the six-year negotiation process, Vietnam initialled the
Vietnam-EU Voluntary Partnership Agreement (VPA) on the EU Forest Law
Enforcement, Governance and Trade (FLEGT).
Quyen said the implementation of this agreement in Vietnam will ensure all wood
products in the list agreed by the Vietnamese government and the EU, including
domestic and imported ones, are legal.
The signing of the document is important as it could create fundamental changes
for Vietnam’s wood processing sector as well as domestic and export markets,
including nations supplying wood material for Vietnam and countries buying wood
and timber products from Vietnam, he added.-VNA