Wood and wooden product exports in the southern province of Binh Duong fetched 5.6 billion USD in 2020, accounting for 47.3 percent of the nation’s total wood export value, according to the Binh Duong Furniture Association (BIFA).
Binh Duong(VNA) - Wood and wooden product exports in the southern province of Binh Duong fetched 5.6billion USD in 2020, accounting for 47.3 percent of the nation’s total wood export value, according to the Binh Duong Furniture Association (BIFA).
The US, Japan, and Hong Kong and Taiwan (China) remained the largestimporters of the locality’s wood and woodenproducts.
Benefiting from the EU-Vietnam Free TradeAgreement (EVFTA), which took effect from August 1 last year, Binh Duong’s wood industryhas expanded exports to EU member nations.
Many multinational companies have started shifting their productionbases from other countries to Vietnam, while Vietnamese businesses have alsobegan their restructuring and participated in global supply chains.
The strong development of the wood industry in the year was attributed to these,BIFA said.
Dien Quang Hiep, Chairman of BIFA, said enterprises tend to promote the applicationof technologies in production and management, adding that Binh Duong’s woodindustry is mapping out sustainable strategies to further develop its market.
Binh Duong’s wood industry expands exports to EU member nations. - Illustrative image (Photo: VNA)
He noted that the sector has experienced many fluctuations in the context oftrade tensions between major powers, and faced difficulties related tomaterials for production.
Support industries serving the sector have not yet developed, he added.
In particular, the requirement to strictly comply with commitments related totrade and technical barriers, rules on origin and environment within the EVFTA alsoputs pressure on local wood producers./.
The Labour Confederation of Binh Duong has asked for cooperation from the Binh Duong Furniture Association (BIFA) to pilot a project to develop a New Industrial Relations Framework (NIRF/ILO project) in the southern province.
Vietnam’s export turnover of wood and forestry products is forecast to hit 11 billion USD in 2019, according to an official from the Vietnam Administration of Forestry (VAF).
Wood and wooden product exports in the southern province of Binh Duong hit more than 1.7 billion USD in the first half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percent of the local total export value of 11.9 billion USD.
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Processing wood for export (Photo: VNA) 
Binh Duong’s wood industry expands exports to EU member nations. - Illustrative image (Photo: VNA) 
