(ĐN)- Local wood industry has more room for export development due to increased market demand and shifted production orders to Vietnam, reported the Dong Nai Statistics Office.
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(ĐN)- Local wood industry has more room for export development due to increased market demand and shifted production orders to Vietnam, reported the Dong Nai Statistics Office.
Accordingly, exported wooden products were valued at US$602 million during the eight months of this year, up 8.2 percent against the same period last year.
The figure for August estimated at approximately US$88.3 million, increased by US$11.2 million compared with the previous month.
Currently, wood product export is among the Dong Nai's top three export industries.
Unlike the previous year, since the beginning of the year, local exporters have received many big orders from foreign partners. Many companies have so far won orders until the end of first quarter of next year. The US, EU, Korea and Japan are large markets and have a significant demand for importing wood and wooden products. Presently, the province’s wood products are expected to access to new markets in Africa and Latin America in the coming time.
According to Le Xuan Tan from Hanh Phuc Co., Ltd in Tam Phuoc industrial, his company gained a year-on-year increase of 20 percent in the volume of exported furniture products. Many importers have moved their orders from China and Thailand to Vietnam.
Director Bui Quang Hoi of Bui Chan Hung Co.,Ltd said that the export of wood products to the United States, Japan, Australia and the EU is double compared to a year earlier.
The Department of Industry and Trade reports that wooden products export grew sharply in both volume and value in the first eight months and the US, Japan, South Korea, Canada and UK are the province’s key importers.
Negotiations of many free trade agreements, including a Trans-Pacific Partnership (TPP) agreement, an EU-Vietnam Free Trade Agreement, and a free trade agreement with the Customs Union of Belarus, Kazakhstan , and Russia are expected to be completed later this year. Free trade agreements with ASEAN (Association of Southeast Asian Nations) countries and China, which already took effect, have provided big opportunities for wooden products exporters.
Many investors are looking for investment opportunities in Vietnam and increasing the number of their orders to Vietnamese businesses. Foreign partners have tended to move their orders from China to Vietnam. Accordingly, Dong Nai will benefit from expanded export opportunities.
Reported by H.G
