Plastic exports expected to grow by 12-15 percent in 2018
Plastic exports grew by 17.3 percent to over 3 billion USD in 2017 and are expected to expand by 12-15 percent this year, according to the Vietnam Plastic Association (VPA).
HCM City (VNA) – Plastic exports grew by 17.3percent to over 3 billion USD in 2017 and are expected to expand by 12-15percent this year, according to the Vietnam Plastic Association (VPA).
Japan and the United States remained Vietnam’s major buyerslast year while China, Laos, Cambodia, and Myanmar are emerging as promisingmarkets for made-in-Vietnam plastics, said VPA President Ho Duc Lam.
The US’s continued anti-dumping duty imposed on PE bagimports from Vietnam has not held back domestic plastic producers as they haveshifted their eyes to new markets, Lam noted.
Japan has topped importers of Vietnamese plastic productswhose import values rose by an annual average rate of 20-25 percent. The stronggrowth of exports to Japan has much lessened the negative impacts of the US’santi-dumping tariff on the plastic industry, he added.
Vietnam has ranked sixth among plastic exporters toJapan, a market with strict requirements on product quality. Vietnamese plasticmanufacturers are putting more efforts to improve their products’ quality anddesign and ramp up trade promotion to gain a stronger foothold in the market.
Many producers are seeking to gain access to the EU marketwhich have high demands for plastic products, particularly plastic pipes, anddo not impose anti-dumping duties, ranging from 8-30 percent, on Vietnam’splastics like other Asian countries.-VNA
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Illustrative image. (Photo: VNA)
