EVFTA with Viet Nam's Trade Journal on Timber and Wooden Handicraft Industry QIII/2021

29/12/2021    10

Time: QIII/2021

By: Import and Export Department - Ministry of Industry and Trade

The EVFTA with Vietnam’s Trade Journal – the Q3/2021 issue assesses the impact of the EVFTA on the Timber and wooden handicraft industry, in which the export of goods is expected to experience a growth after the EVFTA comes into effect, and that expectation has turned into reality when the export of those goods to the EU market has recovered rapidly in the first three quarters, despite the complicated Covid-19 situation.

Agency of Foreign Trade has coordinated with Vietnam Industry and Trade Information Centre to create and publish the third issue of the EVFTA with Vietnam’s Trade Journal for the 2021 third quarter on the topic of the Timber and wooden handicraft industry.

The EVFTA with Vietnam’s Trade Journal is produced with the goal of assessing the implementation of the EVFTA and the efficiency of taking advantage of the EVFTA for Vietnam's trade. The journal, published in every quarter, assesses the impact of the EVFTA on each key export industry.

The EVFTA with Vietnam’s Trade Journal – the Q3/2021 issue assesses the impact of the EVFTA on the Timber and wooden handicraft industry, in which the export of goods is expected to experience a growth after the EVFTA comes into effect, and that expectation has turned into reality when the export of those goods to the EU market has recovered rapidly in the first three quarters, despite the complicated Covid-19 situation.

After more than a year since the EVFTA took effect, both product structure and export market of timber and wooden handicraft goods have been changing positively. The EVFTA is regarded as an important "stepping stone" in the expansion and promotion of the Vietnamese timber and wooden handicraft export in the EU market in the following years.

In the last months of 2021, the consumer demand recovery in the EU and the special preferential export tariffs under the EVFTA are supposed to facilitate the competitive advantage of Vietnamese timber and wooden handicraft products in the EU market. However, enterprises should pay attention to the source of raw materials, product quality, the factors related to the environment and health of consumers, and especially packaging design to increase the success rate for export orders in this "difficult" market.

Source: Vietnam Free Trade Agreement Portal (fta.moit.gov.vn)

The journal (Vietnamese) is attached below: