The UK – Việt Nam Free Trade Agreement is one of the key drivers boosting the growth of Viêt Nam’s timber and wood product exports to the UK, industry experts have said.
Viforest is encouraging businesses to ensure green production, green trade and digital transformation. The association has been conducting many trade promotion activities at home and abroad to seek more customers and orders.
In the first half of this year, Việt Nam exported 1.85 million tonnes of wood pellets to overseas markets, earning a turnover of nearly US$300 million, Viforest said in its latest report.
The US Department of Commerce (DOC) has not yet issued the final determination about the imposition of anti-dumping and countervailing duties on certain hardwood plywood products and veneered panels exported from Viet Nam.
Local timber producer, An Cuong Wood Working JSC, has announced a cooperation agreement with Sumitomo Forestry American, a subsidiary of Japan-based Sumitomo Forestry Group, to provide furniture for projects in the United States from 2022 onward.
Vice director of Viet Nam Administration of Forestry Bui Chinh Nghia told the online newspaper of Government chinhphu.vn about the impressive growth of Viet Nam’s timber and wooden product sector, particularly amid the COVID-19 pandemic.
The wood industry needs to focus on developing design, branding and distribution to achieve the goal of US$20 billion in export value by 2025, according to experts.