A worker checks wooden intersection before packaging for export in a wood work company in Bình Dương Province. — VNA/VNS Photo
HÀ NỘI — Vietnamese wood and furniture products are expected to grow in 2022 due to the purchasing demand of the external market along with meet necessary factors in Free Trade Agreements ( FTAs ) .
Despite experiencing a unmanageable class last year after being heavily affected by the pandemic, the state ’ mho exports of timber and non-timber forest products in 2021 was predicted to reach US $ 15.6 billion, up by 18 per penny compared to 2020. In which, the exports of wood and products reached $ 14.5 billion, up by 17.2 per penny compared to 2020.
Việt Nam ’ s timber and forest products are exported to over 140 countries and territories, of which the main markets are the US, Japan, China, EU and South Korea with a full export prize estimated at $ 13.98 billion, accounting for 89.5 per penny of the country ‘s export value of afforest products .
The move will provide bang-up momentum for the vietnamese forest march and export diligence to develop with an export turnover rate of 20 per cent higher than that of 2021 .
The gains are attributed to the effects of FTAs such as the EU-Việt Nam Free Trade Agreement, the UK-Việt Nam Free Trade Agreement ( UKVFTA ), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership .
They have created favorable conditions for the development of Việt Nam ’ s agribusiness industry bringing advantages in accessing difficult markets and enhancing competition with like grow products of early countries .
According to the Việt Nam Timber and Forest Products Association, last class the export of wooden furniture to the UK sharply increased with products for surviving rooms and dining rooms. They are followed by wooden furniture for the bedroom and wooden inning chairs .
As the UK-Việt Nam release trade agreement ( UKVFTA ) took effect in May 2021, the woodwind march and exporting industry has seen eminent import volume in the market, reaching an export dollar volume of $ 5.24 billion, an increase of more than 15 per cent on 2020 .
The UKVFTA agreement is the driving coerce for vietnamese wood work and exporting businesses to expand the market and diversify products to offer more choices for consumers .
Tạ Hoàng Linh, director of the Europe-America Market Department, said that the UK was the most crucial spouse and the sixth-largest export market for Việt Nam .
however, vietnamese products imported into this market remain modest account for entirely 1 per penny of the sum volume of goods imported into the UK. The UK still has a draw of room for vietnamese farm produce, including wooden products.
Over the class, Vietnamese wood process and exporting businesses have been quick and flexible in response to the COVID-19 pandemic to ensure signed contracts with international customers .
According to the General Department of Việt Nam Customs, the export measure of vietnamese timber and wood products in 2021 to the Americas reached $ 9.3 billion, astir 22 per penny compared to 2020, and the US grocery store alone accounted for $ 8.7 billion, an increase of more than 22 per cent compared to 2021 .
Ready to recover
local anesthetic economists forecast that the ball-shaped economy will gradually recover and grow again this year. Global consumption and extraneous direct investment into Việt Nam will besides increase. The initiatives in engineering and available raw materials of local wooden products makers will become the drive military unit for the nation ’ s forest sector .
Lê Minh Thiện, president of Bình Định Timber and Forest Products Association, said that during an economic convalescence, the economy will undergo a serve of adaptions to new conditions affecting the industry .
In reply to the COVID-19 pandemic, Bình Định Province ’ s wood action and exporting businesses have received many orders but besides face challenges, including dearth of raw materials and accessories, while the price of wood chips and pellets dropped sharply .
There are even many difficulties and challenges such as deficit of sensitive materials, increase in sensitive material prices, labor shortages, and factory capacity. Logistics is besides a big challenge when businesses have requirement to export goods but can not find empty containers causing provision range break .
The Việt Nam Timber and Forest Products Association and wood process and export businesses have worked with authorize agencies to minimise risks in the supply of imported wood materials to avoid trade fraud .
It has suggested empower agencies carefully review FDI investment posing a high gamble for the vietnamese wood diligence.
Đỗ Xuân Lập, the affiliation ‘s president said that despite difficulties, opportunities for Việt Nam ‘s furniture industry were wide open .
Enterprises themselves are aware of the great opportunity, so they have been constantly looking for ways to adapt to newfangled conditions, from retaining workers and, finding a stable informant of raw materials to applying machinery and advanced equipment to reduce dependence on homo resources, improving merchandise choice and promotion and delivery services. — VNS