Vietnam Likely Meet Target at US$3B Woodwork Export Revenues: Viforest

Vietnamese woodwork exporters will likely meet their target of US$3 billion revenues this year, according to Mr. Nguyen Ton Quyen, chairman of the Vietnam Timber & Forest Products Association (Viforest).

 

Quyen forecast that Vietnamese companies have exported US$280 million worth of woodworks in Mar, raising the revenues in the first quarter to US$770 million, meeting 26% of the year’s plan.

 

Local companies will likely lose their shares in the world market if they do not meet new barriers like the Lacey Act set by the U.S. and the Forest Law Enforcement, Governance and Trade (FLEGT) by EU which require the exporters to show certificate of product’s origin, or the FSC (Forest Stewardship Council).

 

The chairman also warned the local companies of tougher competition from rivals from Myanmar, Malaysia and Indonesia which do not depend on imported materials like Vietnam.

 

Last year, Vietnam exported US$2.6 billion worth of woodworks, including US$1 billion from the U.S., US$700 million from EU and US$360 million from Japan.

 

Vietnam set targets to raise woodwork export revenues to US$5.4 billion in 2015, and US$7 billion in 2020. (Vneconomy)