The Agency of Foreign Trade estimates that Việt Nam''s export value of wood and wood products reached US$1.25 billion in June this year, down 1.1 per cent month-on-month, but up 13.6 per cent year-on-year.
The Vietnamese wood industry needs to focus more on branding to increase its competitiveness in the world market and add export value, according to the Việt Nam Administration of Forestry.
The US Department of Commerce (DOC) has announced the extension of the deadline for issuing its final conclusion on a trade remedy duty evasion investigation into hardwood plywood imported from Viet Nam.
Vietnamese wood processing companies have not made full use of the incentives on offer when exporting to Canada, an online conference heard on September 30.
The HAWA Online Platform for Exhibition (HOPE), which will connect Vietnamese wood processing and furniture firms with international and local buyers, will officially launch on August 7 in HCM City.
Vietnamese wood processing firms have reduced production or suspended operations as most of the major importing countries for their products face hardships because of the COVID-19 pandemic.
Viet Nam’s favourable geographical location as well as its strong import demand and preferences brought by free trade agreements (FTAs) make exporting wood products to Australia a viable prospect.
With its dependency on imported materials and export markets'' stringent
norms on the origin and legality of products, Viet Nam''s wood processing
sector is facing high market risks, said an expert.
In October, Vietnamese timber exports earned US$528 million, bringing
total timber exports in the first 10 months to $4.98 billion, a 12.8-per
cent year-on-year increase.