August 16, 2018 10:56

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Forest product exports hit US $ 8 billion for the first time

08:12 | 30/01/2018

VCN- Export turnover of wood and wooden products ranked No. 6 in Vietnam, accounting for 6% of the world market share, ranked No.1 in ASEAN, second in Asia and fifth in the world.

forest product exports hits us 8 billion the first time Wood, timber product exports to hit US$8 billion
forest product exports hits us 8 billion the first time The exports of wood and timber products into the EU will reach $US 1 billion.
forest product exports hits us 8 billion the first time Wood exports exceeds the target, expected at US$ 8 billion
forest product exports hits us 8 billion the first time
Businesses need to innovate design to enhance added value for products. Photo: N.H

On 26th January, "Ceremony to celebrate Vietnam’s Wooden product exports ahead of plans and prospects for wood processing industry 2018-2020" took place in Ho Chi Minh City.

The ceremony was held by Vietnam Administration of Forestry in coordination with Vietnam Timber and Forest Product Association (VIFORES), the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), Binh Duong Furniture Association (BIFA), Forest Products Association of Binh Dinh (FPA) and Dong Nai Wood and Handicrafts Association (DOWOOHA).

In 2017, although the wood processing industry was faced with many difficulties due to the unfavorable weather conditions and fierce competition in the market, export turnover of Vietnam's wooden products still hit US $ 8 billion, an increase of 10.2% compared to 2016, reaching 3 years ahead of the target set in the 2006-2020 forestry development strategy. The export turnover of wood and wooden products ranked No.6 in Vietnam, accounting for 6% of world market share, ranked first in ASEAN, second in Asia and fifth in the world.

At the ceremony, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that the export turnover of US$ 8 billion is a very important landmark of the Forestry sector, thus showing the entire sector’s great effort in both production and compliance with international treaties.

Mr. Cuong said that in the coming years, the wood processing industry will have great opportunities in large markets, both domestic and foreign. At the same time, the plentiful domestic resource with 4.1 million hectares of forest planning and many other natural resources such as Bamboo and Neohouzeaua.

However, consumer demand is also increasing. Therefore, the essential factor for the wood processing industry is the promotion of quality products, good designs and many convenient features to attract customers and increase the value of products.

Representatives of the Wood processing associations and communities, Mr. Nguyen Quoc Khanh, President of HAWA, pointed out the opportunities for the Timber industry to 2020. Accordingly, in recent years, regions manufacturing wooden products have not increased, excepting Asia-Pacific, so the global competitive pressure has not increased. While the demand for furniture in the world continues to grow. This is a great opportunity for the Vietnamese Timber industry.

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However, the US – the largest importer of Vietnam’s wooden products tends to strongly support domestic enterprises, including wood enterprises. Meanwhile, Chinese enterprises tend to shift their production to Vietnam, which will affect the domestic labor and materials market and may be prosecuted for anti-dumping.

In 2018, the Timber industry targets to increase export turnover of forest product to US$ 9 billon, of which turnover of wood and wooden products are to increase from US$ 8.5 to 8.7 billion.

In order to achieve this target, Mr. Khanh said that businesses need to focus on technology innovation to improve productivity and stabilize quality. At the same time, enhancing added value with new designs. Specifically, businesses need to commit to not trading wood illegally, in order to make the wood processing industry a sustainable production industry.

By Nguyen Hien/ Ngoc Loan