Hanoi (VNA) - Forest product exports areexpected to reel in 14.5 billion USD this year, up 12 percent against 2020, anofficial has said.
Deputy Minister of Agriculture and Rural DevelopmentHa Cong Tuan unveiled the target in an interview with the Lao Dong (Labour)newspaper on the growth of the forestry sector over the next five years.
Export value is set to reach 20 billion USD in 2025. Duringthe five-year period, he said, the sector will work to sustain the forestcoverage rate at 42 percent, expand distribution markets, develop long-termtrade partnerships, and promptly address trade issues for mutual benefits inline with international commitments.
The minister also touched on a number of positive outcomes made by the sector last year despite COVID-19.
Vietnam exported forest products worth over 13.22billion USD, up 16.9 percent against the previous year, and 5.7 percent higher than the annual target.
The country now ranks fifth globally, second in Asia, andfirst in Southeast Asia in terms of forestry exports, with woodwork productsavailable in over 120 countries and territories worldwide.
The US, Japan, China, the EU, and the Republic ofKorea are the top five importers for the sector, with combined import valueexceeding 11 billion USD or about 90 percent of Vietnam’s total forestry exportturnover.
The country has more than 5,500 companies operating inwood and forest product processing, which generate millions of jobs./.
The export value of the wood processing and forestry sector was 2.18 billion USD in the second quarter of 2020, dropping 11.3 percent against the first quarter and 20 percent against the same period last year.
Forestry exports will be no lower than 12 billion USD this year, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan told a meeting in Hanoi on July 10.
Export revenue of forestry products hit over 5.3 billion USD in the first six months of 2020, up 2.7 percent over the same period last year, reported the Vietnam Administration of Forestry.
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Illustrative image (Source: VNA) 
