A US Furniture Industry Business Mission will arrive in Vietnam to participate in the International Fine Arts and Woodwork Products Exhibition or EXPO 2007 slated for Oct 7-14 in Ho Chi Minh City.
The mission is supported by the US Vietnam Chamber of Commerce (www.usvnchamber.org), the Embassy of Vietnam in the US and various trade associations in the US and Vietnam.
It is organized and coordinated by Vietnam Resource Group, LLC, Washington DC (www.vietgroup.net) in cooperation with Trade Service Company, an affiliate of the Vietnam Chamber of Commerce and Industries in Vietnam.
The US is now the biggest importer of Vietnamese woodwork products. Last year, it contributed up to US$902.5 million to Vietnam’s total earning from woodwork exports, which was more than US$2.2 billion.
The figure is expected to jump by 40 per cent on year, to US$1.26 billion in 2007, or occupy 50 per cent of Vietnam’s total earnings from the product.
In the first quarter of 2007, Vietnam exported US$277.7 million worth of woodwork products to the US, up 49 per cent compared with the same period of last year and accounting for over 20 per cent of the country’s total.
Presently, Vietnamese bedroom wooden furniture occupies 14.66 per cent of the US market while other wooden furniture and uncovered wooden chair represent 3.71 per cent and 5.54 per cent, respectively.
Vietnam expects it will earn around US$2.5 billion from wood products export this year and US$5.56 billion in 2010.
HCMC Expo 2006, took place from Oct 4-8, attracted 65,000 foreign visitors out of total 27,000 participants. More than 200 contracts worth over US$18 million were inked during the expo. (
www.furninfo.com, Vietnam Panorama)
Vietnamese
