Many Vietnamese wooden furniture and handicraft companies are advertising their products to foreign customers at the International Furniture Fair Singapore 2018 (IFFS-2018), which opened in the island country on Thursday.

Vietnamese Trade Counsellor in Singapore Tran Thu Quynh described the event as a good opportunity for Vietnamese furniture firms, including those from craft villages, to explore new business strategies in the context of the interior industry’s focus on distinguished and environment-friendly products.

Le Thi Thuan, director of the Qua Thuan Handicraft Manufacturing and Trading Company, which is participating at the fair for the third time, said the event would help local furniture producers to promote their products and seek potential international and regional trade partners. More than 400 companies worldwide are participating in IFFS-2018. The fair will conclude on Sunday.

Viet Nam’s export of wood and wooden products has increased by 12.3 per cent per year for the past seven years and is predicted to grow even faster in the next three years, according to the Handicraft and Wood Industry Association of HCM City (Hawa).

Currently, Viet Nam is the largest exporter of wood and wooden products among ASEAN countries, the second largest in Asia and the fifth largest in the world.

The country’s export value of wooden products is likely to reach US$8.5-8.7 billion this year, Hawa predicts. — VNS