With robust growth in the wood processing industry in 2017, Vietnam is looking forward to getting a turnover of US$8 billion from exports of wooden furniture in 2018.
Valuable wood that could be used by local carpenters is being shipped overseas.
Domestic enterprises have dominated Vietnam’s wooden furniture market in recent years with annual revenue of US$2 billion, said Huynh Van Hanh, vice chairman of the HCMC Handicraft and Wood Industry Association (HAWA).
Vietnam Timber and Forest Products Association general secretary Nguyen Ton Quyen said exports to major markets such as the US, Japan and the European Union will continue to increase and achieve growth rates of 10 per cent, 15 per cent and 18 per cent respectively.
Once the EU-Vietnam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA-FLEGT) comes into force, there will be opportunities for Vietnam to export more wooden products to Europe and other markets, delegates told a seminar in HCM City on June 13.
Registration is now open for the 2017-18 Hoa Mai (Apricot Blossom) furniture design competition organised by the Handicraft and Wood Industry Association of HCM City.
Sweden’s wood materials industry sees Việt Nam’s wood processing industry as a potential market for its eco-friendly, competitive and sustainable materials, speakers at a seminar said.
With the leading position in Southeast Asia, Vietnam’s wood production and processing industry is under the spotlight of foreign companies and suppliers.
The export of wood and wood products is expected to fetch US$8 billion this year, up from $7.3 billion last year.
The 12th Viet Nam International Woodworking Industry Fair opened in HCM City on Wednesday, with over 350 firms from 28 countries and regions taking part.