Update: 09:46 | 06/09/2020
Exports of forest products in the first eight months of the year were worth nearly US$7.83 billion, a year-on-year increase of 10.6%, according to the Vietnam Administration of Forestry under the Ministry of Agriculture and Rural Development.
The export value of forestry products accounted for 29.9% of the export value of the agricultural sector; of which, exports of wood and wood products were estimated at US$7.32 billion, a year-on-year increase of 9.6%, while non-timber forest products reached US$511 million, up 21.6%.
Vietnam forestry products exports increase by 10% despite pandemic.
Major export markets for the timber and forest products of Vietnam include the US, Japan, China, the EU and the Republic of Korea with a total export value of US$7 billion.
According to Do Xuan Lap, Chairman of the Vietnam Timber and Forest Product Association (VIFORES), thanks to its efficient pandemic control, Vietnam has become an attractive investment destination for many wood processing companies with turnover in the billions of dollars.
The industry should continue to restructure the whole production chain, from its varieties of trees to promoting sustainable forest management, and implement its commitments under the EU-Vietnam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA-FLEGT), according to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.