The fair creates an opportunity for businesses in the field of wood processing at home and abroad to seek cooperation deals, forming a supply chain of raw materials and accessories, machinery, technology to manufacturers, enterprises from reputable manufacturers from the US, Europe, Japan, China, Taiwan (China), among others.
Speaking at the opening ceremony, Deputy Minister of Agriculture and Rural Development Nguyen Quoc Tri said that in 2022, with countless efforts of the sector, the association achieved the set target with export value reaching over 17 billion USD, an increase of 7.1%. Vietnam is one of the important destinations of international timber product partners as the second country in Asia and fifth in the world in exporting wood and timber products.
In the first seven months of 2023, due to the gloomy economic situation of the world’s economy, consumers in the main export markets of Vietnam's forest products continued to tighten spending for non-essential products including timber and wood products. As a result, the export value of the sector only reached 7.8 billion USD, down 25.5% from the same period last year.
Tri stressed that the exhibition is an opportunity for businesses to restructure, upgrade production capacity, change models, expand markets, and innovate technology in an attempt to turn disadvantages into opportunities to overcome hurdles and grow.
Several activities will take place during the four-day event, including a fact-finding trips, seminars, workshops on markets, and trade promotion.
