Vietnamese wood exports to grow rapidly

HCM City, July 10 (VNA) - Vietnam's export market for wood products will enter a golden period, according to Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) Huynh Van Hanh. The forecast of the country's expansion of its global market share is based on the fact that the prices of European products have remained high, while Chinese products are being charged a high anti-dumping tax. In September last year, the United States imposed high anti-dumping tax rates of 56-122 percent on Chinese wood products, reducing the competitiveness of Chinese products. Speaking at a meeting to announce the overall development plans for Vietnam's industrial sector on July 7, Hanh said the current environment, which has seen strong growth in the import markets of Japan and the United States as well as that of the EU, marked a good opportunity for Vietnam's wood exporters to boost their global exports. According to the Vietnam Timber and Forest Products Association (Vietfores), the export of wood products to the United States, Japan and the EU this year will produce growth rates of 10 percent, 15 percent and 18 percent, respectively. Hanh noted that some timber such as melaleuca, rubber timber and cultivated timber had become Vietnam's trademark, and many importers use this legally acquired timber. He claimed that rising timber exports had not impacted the country's forests, but he encouraged forest cultivation, adding that forest coverage was expected to rise from approximately 43.5 percent this year to 45 percent next year. Industry and Trade Minister Vu Huy Hoang said Vietnam's export of wood products currently met regulations intended to reduce timber imports and increase the cultivation of timber. International organisations had also praised Vietnam's wood processing industry as it continued to grow while still meeting strict regulations to protect watersheds and prime forest areas, Hoang explained. Wood and timber product exports are among Vietnam's top 10 export industries. The industry is expected to earn an export turnover of 6.3 billion USD this year, up 10 percent compared to 2013, according to Vietfores.-VNA