New Zealand Forestry and Trade Minister Todd McClay on May 27 unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the forestry sector between the two nations.

Under the new agreement, New Zealand’s radiata pine will be recognised under Vietnam’s evolving timber construction standards, paving the way for increased market access in the rapidly developing Vietnamese market.

Under the agreement, New Zealand’s radiata pine will be recognised under Vietnam’s evolving timber construction standards, paving the way for increased market access in the rapidly developing Vietnamese market.

Minister McClay highlighted that the pact is expected to drive growth in the 2.68 billion NZD (1.59 billion USD) bilateral trade and expand the 48 million NZD worth of sawn timber New Zealand currently ships to Vietnam.

He emphasised Vietnam’s strong economic trajectory, noting that its economy has doubled over the past decade and is poised to lead global income growth.

This trend is expected to spur construction activity and demand for sustainable building materials, creating further opportunities for New Zealand’s wood sector.

The agreement is set to add value to New Zealand’s timber products and offer opportunities in addition to exporting logs. It boosts the country's export potential and helps double its exports by value in 10 years.

Wood industry proactively reduces impact from tariff policy

According to the Ministry of Agriculture and Environment, if the US imposes reciprocal tariffs on Vietnam, orders could immediately decline. High tariffs will cause wood products from Vietnam to lose their competitive advantage, and customers will seek supplies from countries with lower tariffs. In the long term, this will narrow Vietnam’s wood export market, and the value of forestry exports is at risk of decreasing significantly.

Wood exports reach over 2.5 billion USD in two months

Vietnam’s wood and wood product exports reached over 2.5 billion USD in the first two months of the year, statistics from the Ministry of Agriculture and Environment showed.

Sau village’s traditional wooden houses preserved

BAC GIANG – Located on a low hill by the Thuong River, over 10 kilometers from the center of Bac Giang city, Sau village in Lien Chung commune, Tan Yen district retains its ancient charm. 

 

Bac Giang’s forestry sees highlights in wood processing market

BAC GIANG- In the context when livestock and plantation have been dramatically impacted by harsh weather, natural calamities and epidemics, forestry production especially wood processing is a highlight with positive signs this year. Seizing this opportunity, many wood processing firms in Bac Giang province have stimulated production investment and signed many consumption contracts.

Wood export target of 15.2 billion USD feasible, challenges remain

Despite market recovery, the wood industry needs to overcome formidable challenges to realise the export revenue target of 15.2 billion USD for the whole year, according to insiders.