Vietnam earned US$831-M from wood-based exports in the 1 st 2 months this year, an increase of 36.2% compared to the same period last year, according to the Vietnamese Ministry of Agriculture and Rural Development.

Demands for Vietnamese wood exports have increased so far this year. Specifically, orders of Vietnamese wood and forest products from the United States during the period were estimated to reach nearly US$1.7-B almost the same to last year’s total turnover, according to the Vietnam Timber and Forest Product Association Friday.

Meanwhile, the Handicraft and Wood Industry Association of southern Ho Chi Minh City forecast that wood product exports to the US this year would rise by 18%, while those to the EU market would rise by 8 to 10%, to China up 15% and Japan + 11 to 12%.

Director of the Forest Management Department under the Ministry of Agriculture and Rural Development Nguyen Huu Dung, said that import markets would become stricter about the legality of raw materials, urging domestic enterprises to move to meet the requirements of relevant international trade policies such as the US Lacey Act and the EU’s FLEGT.

Last year, Vietnam took in US$4.9-B from wood based exports, + 17.6% Y-Y, according to the General Statistics Office.

Source: LIVE TRADING NEWS

Posted and edited by Ran, Hanbao News Department

Contact: import-export@hanbaogroup.com