(VOVworld) – The Vietnam Timber and Forest Products Association (Vifores) and non-profit organisation Forest Trends held a conference in Hanoi on Tuesday  showcasing new opportunities for Vietnam’s timber processing industry to increase exports.

Vietnam’s timber processing industry can expand its export market when Vietnam joins various bilateral and multilateral agreements. (Photo: baomoi.com)

Vietnamese wood products are available in about 120 countries and territories. Last year it earned 7 billion USD from wood and product sales. This year, revenue is expected to reach 7.3 billion USD.

Nguyen Ton Quyen, President of Vietnam Timber and Forest Products Association, said with an annual growth rate from 15 to 20%, the industry will have potential to expand its export market, especially as Vietnam joins various bilateral and multilateral agreements.

Quyen noted: “Vietnam has pledged to reduce taxes when it signs bilateral and multilateral agreements like the TPP. But since 2006, for the wood sector export and import duty has been cut to 0% and non-tax hurdles lifted. The move has positively influenced export businesses. In addition, mechanisms and policies for the domestic wood industry are open to help Vietnamese exporters easily expand their markets.”

The conference participants underlined the need for Vietnamese timber exporters to expand their markets in the US and Japan and attach more importance to promoting brands and origins of their products.