The agriculture sector needed strategies to push wood export value beyond US$11 billion this year and to a develop production chain and value-added export products.

Last year was a successful year for the wood industry, with the export value of wood products reaching US$8.9 billion, up 14.5 percent from the previous year.

Though the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will reduce many tariffs to zero in member countries, Vietnamse farm exports could face non-tariff barriers, according to local experts.

The signing of the Forest Law Enforcement Governance and Trade Voluntary Partnership Agreement (FLEGT-VPA) between Việt Nam and the European Union is expected to have a positive impact on the country’s economy and environment.

Việt Nam earned US$4.15 billion from exports of wood and wooden products in the first six months of this year, marking an increase of 8.4 per cent compared with the same period last year.

Việt Nam’s wood industry faces a quandary as bright export growth prospects are clouded by difficulties in finding the necessary raw materials.

The export of wood and timber products is forecast to bring in US$8 billion in 2017, posting a 17 per cent year-on-year increase and surpassing the target of $7-7.5 billion set earlier this year.

The price of several kinds of lumber in Việt Nam had gone up due to scarcity created by unexpected Chinese purchases, creating pressure on the domestic wood business and Việt Nam’s wood industry.

Việt Nam’s exports of timber and wood products to the UK would be affected by Britain’s exit from the European Union (EU), industry insiders said.

Local wood producers should focus on developing their business in the domestic market to avoid domination of foreign products.