The year 2024 is forecasted to remain challenging for the wood industry in Vietnam, several issues might be affecting the sustainability of production and export were pre-identified.
A worker in the wood furniture factory in Vietnam - img: aboutwood.asia
Statistics from the Vietnam's Ministry of Agriculture and Rural Development show that the wood sector’s export turnover reached US$14.39 billion in 2023, reduce -15.80% compared to year 2022.
Major export markets have stricter the regulations on product legality and sustainability.
Europe - The EU Deforestation Regulation (EUDR), took effect in late June 2023, requires products imported into this market to ensure legality and ensure not impact the cause of deforestation.
United States - The US market requires an increase in the frequency of investigations applying trade remedies to the industry, and also compliance with labour and employment regulations.
Japan - Increasing requirement of sustainability certificates for wood products from Vietnam.
Germany - German importers require Vietnamese exporters to provide additional certificates related to product origin, employment status, wages, waste treatment and other related certificates.
Canada - Currently tends to put forward more environmental regulations in its product design, manufacturing and marketing strategies. The Canadian Government published a regulatory framework to establish mandatory requirements for recycled content and labelling for plastic products, which will impact most of VietNam's export commodity groups, from consumer goods packaging to other key export sectors.
Source: VNS
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A worker in the wood furniture factory in Vietnam - img: aboutwood.asia
Statistics from the Vietnam's Ministry of Agriculture and Rural Development show that the wood sector’s export turnover reached US$14.39 billion in 2023, reduce -15.80% compared to year 2022.
Major export markets have stricter the regulations on product legality and sustainability.
Europe - The EU Deforestation Regulation (EUDR), took effect in late June 2023, requires products imported into this market to ensure legality and ensure not impact the cause of deforestation.
United States - The US market requires an increase in the frequency of investigations applying trade remedies to the industry, and also compliance with labour and employment regulations.
Japan - Increasing requirement of sustainability certificates for wood products from Vietnam.
Germany - German importers require Vietnamese exporters to provide additional certificates related to product origin, employment status, wages, waste treatment and other related certificates.
Canada - Currently tends to put forward more environmental regulations in its product design, manufacturing and marketing strategies. The Canadian Government published a regulatory framework to establish mandatory requirements for recycled content and labelling for plastic products, which will impact most of VietNam's export commodity groups, from consumer goods packaging to other key export sectors.
Source: VNS
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