Exports of Vietnamese Wood and Wood Products in the First Half of 2019
With the entry into force of the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) and the expected signing of the Vietnam EU Free Trade Agreement (EVFTA) within this year, industry experts are optimistic about the prospects for Vietnam’s timber and wood products exports.
At present, Vietnam is participating in a series of free trade agreements, especially the recently participated CPTPP agreements. According to these agreements, import taxes on many commodities will be reduced or eliminated, bringing Vietnamese commodities a competitive advantage.
In addition, the Ministry of Industry and Trade of Vietnam said that many timber enterprises had filled their orders to the end of the year, and their operating conditions had been strong growth compared with last year.
According to statistics from Vietnam Customs General Administration, demand for wood and wood products in major markets such as the United States and Japan has soared, together with factors such as Vietnam’s improving business environment for investment.
Vietnam’s main export markets for forest products are the United States, Japan, the European Union, China and South Korea.