At a wood processing factory (Source: VNA)Hanoi (VNA) - Vietnam raked in morethan 6.7 billion USD from exporting its main forestry products in the firstnine months of 2018, up 15.91 percent year-on-year, accounting for 23.17percent of the total export turnover of the agricultural sector.
According to the Vietnam Administration of Forestry, the products ran a trade surplus of 5.08 billionUSD in the period, with the surplus for wood and wood products 4.74 billion USD.
The US is the biggest importer of Vietnam’s timber goods, with import turnover of 2.7 billion USDin the first nine months of this year, up 15.8 percent compared to the sameperiod of 2017.
It was followed by Japan with 827 million USD (up 8.1 percent) and China with812.6 million USD (up 3.8 percent).
The Republic of Korea, Australia, Canada and France were also large importersof Vietnamese timber and wood products, with respective import value of 699.2million USD, 137 million USD, 115 million USD and 90 million USD.
Vietnam aims to earn 9 billion USD fromexporting forestry products in 2018.
The exportturnover of wood and timber products is expected to increase in the rest monthsof this year in line with consumption habits.
In addition, Vietnamand the European Union (EU) are completing procedures to approve the signing ofthe voluntary partnership agreement on Forest Law Enforcement, Governance andTrade.
By mid-July 2018, the European Commissionapproved the content of the agreement and agreed to submit it to the EU Councilof Ministers for signing.
The Vietnamese Ministry of Agriculture and RuralDevelopment has submitted the document to the Government for approval.
Nguyen Ton Quyen, General Secretary of theAssociation of Vietnam Timber and Forest Product, said the Vietnamese forestrysector is also facing many difficulties, including a shortage of raw materialsfor production and fierce competition with Chinese firms.-VNA
VNA
