VN sees chances to timber product export to US

12:11 | 16/03/2015

VGP – Viet Nam has opportunities to enhance exports of timber products in2015, especially to the US market, representatives have recently said at a conference.

According to the Handicrafts and Wood Industry Association of Ho Chi Minh City (Hawa) Huynh Van Hanh, despite trade difficulties, the wood processing industry has enjoyed an everage expansion of 15% over the past seven years (2008-14).
The country earned $6.2 billion from the export of wood and wooden products, a year-on-year increase of 11.5% in 2014, Hanh told participants at a conference on Export to the US Market: Opportunities and Challenges.

The US was a biggest import marketplace for Vietnamese wooden products, accounting for 35.6% of the trade revenue, followed by China (15.36%), Japan (13.9%) and the EU.
The recovery of the US economy has increased consumption of furniture products in the market, said Tran Quoc Manh, Hawa’s executive board member and chairman of the Saigon Trade and Production Development Corp.

The arriving Trans-Pacific Partnership agreement will open trade opportunities for Vietnamese firms to the market, including those in the timber industry, he said.
Currently, the country’s furniture export value accounts for just 2.68% of the total figure of 70 furniture exporting countries.
In 2015, Wood and timber products exports are to grow by 15%, reaching at least $7.2 billion, Hanh said, adding that trade income was $1.049 billion in the first two months of the year, up 14% over the same period last year.

                                                                                                                            By Vien Nhu