| Vietnam increases exports of certified wood and wood products Why did exports of wood and wood products to the Dutch market increase sharply in January 2024? |
This is the sharing of wood export enterprises at the seminar introducing the 15th Vietnam International Fine Arts and Furniture Export Fair (VIFA EXPO 2024) on the afternoon of February 20.
According to Mr. Tran Ngoc Liem - Director of the Vietnam Federation of Commerce and Industry, Ho Chi Minh City Branch (VCCI Ho Chi Minh City), 2023 is the first year that the wood export industry recorded negative growth after maintaining an upward trend for the past two decades. However, in early January 2024, Vietnam's export situation in general and wood and wood product exports in particular recorded many positive signals.
Specifically, in January 2024, wood and wood products were the only agricultural products with export turnover exceeding 1 billion USD and accounting for 29% of the total export turnover of the entire industry.
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| Visitors to the VIFA EXPO furniture fair held in 2023 |
Mr. Liem said that the export turnover of the wood industry showed signs of recovery from the last months of 2023. However, besides the above positive signals, the wood export industry is still facing many challenges when the complicated and prolonged conflicts between countries have affected the business activities of enterprises.
“ In the current context, trade promotion is extremely necessary,” Mr. Liem affirmed, adding that VCCI Ho Chi Minh City has coordinated with the Vietnam Association of Building Materials (VABM) and Lien Minh Wood Handicraft Joint Stock Company to organize VIFA EXPO 2024 to contribute to connecting businesses with international markets, helping businesses strengthen relationships with traditional customers, and at the same time finding and expanding new customers.
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| International customers experience and learn about products at a furniture fair held in Ho Chi Minh City. |
Regarding this fair, Mr. Dang Quoc Hung - Chairman and General Director of Lien Minh Wood Handicraft Joint Stock Company - said: VIFA EXPO 2024 will take place from February 26 to February 29, 2024 at Sky EXPO Vietnam Exhibition Center (Quang Trung Software Park, District 12, Ho Chi Minh City).
According to Mr. Hung, after 14 editions, VIFA EXPO has connected hundreds of thousands of importers from all over the world with businesses exhibiting at the fair. With this 15th edition, VIFA EXPO has attracted more than 600 businesses registering nearly 2,000 booths on a total area of 36,000 m2. Of which, furniture products account for 61%, handicraft products account for 8%, home decoration products account for 19%, machinery, accessories, and services account for 12%. Notably, Vietnamese businesses account for 52%, international businesses from 17 countries and territories account for 48%.
“With positive figures recorded from the VIFA EXPO fairs in March 2023, it attracted more than 18,000 visitors, including nearly 6,000 international visitors from 117 countries and territories. Notably, 80% of exhibiting businesses said they had signed contracts or memorandums of understanding right at the fair, with the total transaction value recorded at the fair reaching 100 million USD. From there, we expect that this year's fair will be a point of connecting supply and demand, helping businesses expand their connections and find new export markets,” said Mr. Hung.
In fact, from participating in fairs for many consecutive years, Mr. Tran Quoc Manh - Chairman of the Board of Directors of Saigon Production and Trade Development Joint Stock Company (SADACO) - said: Participating in fairs is the best way to promote the brand for businesses, especially in the current market situation. "Through fairs like VIFA EXPO, we have found customers and signed contracts afterwards" - Mr. Manh added.
According to Mr. Manh, the wood export market trend has changed a lot as businesses face huge pressures such as: Freight rates increased by 200% compared to last year due to the Red Sea tension, making orders in short time and importers also have higher requirements for product design and quality... Therefore, participating in trade promotion will help businesses update new trends, grasp customer tastes to have appropriate business strategies.
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