Vietnam Emerging As a Major Wood Product Trading Partner
A surging demand for Vietnamese furniture has created a large market for US wood products and woodworking machinery. Vietnamese manufacturers are rushing to fill the void as Chinese furniture exports dwindle due to US antidumping petitions. As Vietnam's furniture industry grows, so too does its demand for logs, lumber, woodworking machinery and technology.
(PRWEB) July 15, 2004 -- A surging demand for Vietnamese furniture has created a large market for US wood products and woodworking machinery. Vietnamese manufacturers are rushing to fill the void as Chinese furniture exports dwindle due to US antidumping petitions. As Vietnam's furniture industry grows, so too does its demand for logs, lumber, woodworking machinery and technology.
Vietnams expanding wood processing industry relies upon imported wood. Total timber imports to Vietnam reached US$250 million in 2003, and significant growth is expected. The demand for woodworking machinery and related equipment is also soaring.
According to Wood & Wood Products magazine, Vietnam is on its way to becoming a wood products giant." In 2003, Vietnam's wooden exports exceeded US$ 560 million -- a 28% increase on 2002 and is expected to reach $US 750 million this year, as reported by the Vietnam Ministry of Trade. Within three years, 75 percent to 80 percent of wood furniture sold in the United States will be manufactured in Asia, says Keith B. Hughes, an industry analyst with SunTrust Robinson Humphrey Capital Markets.
To seize these opportunities, the Vietnam Resource Group -- a private consulting firm in Washington DC - is organizing two trade missions to Vietnam:
1. Outsourcing Mission: From Sept. 29 to Oct. 3rd , 2004 : This mission is to outsource furniture/handicraft products in Vietnam in conjunction with the International Furniture and Handicraft 2004 Fair, organized by the Service of Trade of Ho Chi Minh City, Vietnam
2. Marketing Mission: From Oct. 12h to 18th , 2004: This missions objective is to assist participants to market their wood and wood-related products and machinery in Vietnam. It is in conjunction with the 4th International Woodworking Machinery Industry Expo , organized by the Vietnam National Expo and Advertising Company and hosted by the Ministry of Trade.
These trade missions are coordinated by Mr. Trung Trinh, Managing Partner of Vietnam Resource Group. Mr. Trinh has been involved with business development in Vietnam since 1994 and has been assisting numerous US companies to establish business contacts and to develop successfully business projects in Vietnam.
For more information on how to participate in these missions, please contact:
East Coast:
Trung Trinh:
202-271-8200
West Coast :
Ross Meador:
510-845-5726
Or email us at:
vietgroupusa@vietgroup.net
www.vietgroup.net
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