Timber goods’ market on target The timber products market needs to promote local business and develop the export market this year to deal with the greater difficulties, said the HCM City Fine Art and Wood Processing Association. The association reported in 2011 that the wood processing industry gained its target of US$3.9 billion, an increase of $500 million from the previous year. But, in fact, wood processors earned a small profit from exports due to the European economic downturn. Europe is a major export market for Vietnamese wood, as well as an area of low competition, the association said. It reported that in 2011, 55 per cent of the total domestic wood producers suffered losses and produced moderately. Thirty per cent of them broke even while 15 per cent saw little profit. Tran Quoc Manh, vice chairman of the HCM City Handicraft and Wood Industry Association (HAWA), said that in 2012 domestic wood exporters would still face many challenges, such as the European Union’s Forest Law Enforcement, Governance and Trade (FLEGT) that would come into effect on March 3 and the tight monetary policy in the US. The trend in wooden product export moved from outdoor furniture to indoor furniture….
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