Vietnam exports timber products to 120 countries, territories
Vietnam has exported timber products directly to 120 countries and territories instead of having to go through a transit market like China’s Taiwan, Singapore and the Republic of Korea (RoK) to export to the third country.
Vietnam has exported timber products directly to 120 countries and territories (Illustrative image. Source: VNA)
Hanoi (VNA) – Vietnam has exportedtimber products directly to 120 countries and territories instead of having togo through a transit market like China’s Taiwan, Singapore and the Republic ofKorea (RoK) to export to the third country.
The US, China, Japan and the RoK are the four largest importers of Vietnam’s timber goods, accounting for78.5 percent of the country’s total export value of those products.
Other markets with strong growth are Malaysia,France and Australia.
Wood and timber productsran a trade surplus of 3.52 billion USD in the period, with imports of thoseproducts standing at 1.24 billion USD, a slight increase of 0.4 percentcompared to the same period last year.
According to the Vietnam Administration ofForestry under the Ministry of Agriculture and Rural Development, main forestryproducts in January-July were estimated to earn the country over 5 billion USD,fulfilling nearly 56 percent of the yearly target and making up 22.6 percent ofthe total export turnover of the agriculture sector.
The forestry sector recorded a trade surplus of3.77 billion USD in the reviewed period.
The export value of main forestry products continuedto maintain a year-on-year average growth of over 14 percent.
The export turnover of wood and timber productsis expected to increase in the remaining months of this year in line withconsumption habits.
In addition, Vietnam andthe European Union (EU) are completing legal procedures to approve the signingof the voluntary partnership agreement (VPA) on Forest Law Enforcement,Governance and Trade (FLEGT).
By mid-July 2018, the European Commission (EC)approved the content of the agreement and agreed to submit it to the EU Councilof Ministers for official signing.
The Vietnamese Ministry of Agriculture and RuralDevelopment has submitted the document to the Government for signing.-VNA
Vietnam’s exports account just 6 percent of the global timber and wooden furniture market which is estimated at 120 billion USD, said a local official.
The Vietnam Timber and Forest Production Association (VIFORES) has called on the forestry industry to keep a close eye on US-China trade war developments in order to be able to respond quickly.
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Vietnam has exported timber products directly to 120 countries and territories (Illustrative image. Source: VNA) 
