The new agreement is expected to drive growth in the 2.68 billion NZD (1.59 billion USD) bilateral trade and expand the 48 million NZD worth of sawn timber New Zealand currently ships to Vietnam.
Agro-forestry-aquatic product exports raked in 34.27 billion USD in the first seven months of 2024, up 18.8% from the same period last year, said the Ministry of Agriculture and Rural Development (MARD).
Although 2024 is forecast to be a challenging year for the rubber sector, posed by unfavourable weather conditions and unpredictable market development, the Vietnam Rubber Group Joint Stock Company is still eying over 167 million USD in pre-tax profit, up 2% year-on-year.
The international wood material, woodworking machinery fair –BIFA WOOD Vietnam 2023 opened in the southern province of Binh Duong on August 9 with nearly 800 booths from 100 leading enterprises in the industry both at home and abroad.
About 38,700ha of concentrated forest was planted nationwide in the first quarter of 2023, up 4.7% year on year, according to the Vietnam Administration of Forestry.
Aiming to be one of the world’s leading processing centres of export timber, Vietnam is striving to establish legal timber, where raw materials are legally sourced and traded throughout the entire value chain.
Aiming to be one of the world’s leading processing centres of export timber, Vietnam is striving to establish legal timber, where raw materials are legally sourced and traded throughout the entire value chain.
A forum took place in the southern province of Binh Duong on October 28 to discuss the promotion of legal and sustainable timber value chains in Vietnam.
The export value of forestry products in July dropped by 5.5% from the previous month to 1.41 billion USD, also down 1.6% from the same period last year, according to the Forestry Department under the Ministry of Agriculture and Rural Development.
Vietnam aims for annual growth of 5-5.5% in forestry production value under the sustainable forestry development programme for 2021-2025 freshly approved by the Government.
Exporters of wood products need to have sustainable timber sources and use advanced technologies to reduce labour, a trade show heard in Ho Chi Minh City.
Vietnam's exports of timber and wood products have decreased due to the impact of high inflation in the export market, according to the Ministry of Industry and Trade.
Tight timber supply, coupled with transport delays, has been holding back furniture manufacturers, exposing the need for domestic substitution for imported timber.
Suspension of production at local wood processing enterprises due to the COVID-19 pandemic is having effects on exports, according to the Vietnam Timber and Forest Product Association (VIFOREST).
Vietnam expects to gain a total export value of 12.5 billion USD from timber, wooden products and forest products this year, up 10 percent year on year, according to the Vietnam Timber and Forest Product Association (VIFORES).
The forestry industry has established itself as an important sector of the country. Vietnam has become the largest exporter of wood and wood products in ASEAN, second in Asia and fifth in the world.
Exports of forestry products increased by 9.2 percent from 2016 to 7.97 billion USD in 2017, according to the Vietnam Administration of Forestry (VNForest).
