Wood exports likely to exceed $4b

Vietnam’s exports of wood products are expected to exceed $4 billion thanks to the rising demands and the economic recovery of most of Vietnam’s markets, says the Vietnam Timber and Forest Product Association (Vietforest).

According to the association, the growth rate of the exports of Vietnamese wood products to the US market is estimated at 15 percent this year and the figure for the EU market is roughly 8 percent.

Vietfores vice President Nguyen Ton Quyen said the taxes for wood exports have reduced from 10 percent to 0 percent and this will encourage wood products exporters.

Some businesses have started their exports to potential markets such as India, Russia, and the Middle East, he said.

 

Category: Business