Vietnam, EU reach agreement on controlling imported wood origin
Vietnam and the EU finished their fifth round of negotiations on the Voluntary Partnership Agreement (VPA) on Forest Law Enforcement, Governance and Trade, with sound outcomes.
Hanoi (VNA) – Vietnam and the EU finished their fifth round of negotiations on the Voluntary Partnership Agreement (VPA) on Forest Law Enforcement, Governance and Trade, with sound outcomes, as heard during a press confereꦕnce held 💃on January 22.
According to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan, the talks on January 21 and 22 focused on a management system to ensure the legality of Vietnamese timber, especially the legal origin of imported wood.
The VPA on Forest Law Enforcement, Governance and Trade aims to ensure that all Vietnamese wood products exported to EU countries are of legal origin.
Once in effect, the agreement is expected to boost Vietnam’s wood processing and export industry in terms of sustainable growth and market expansion.
In a joint announcement released after the meeting, the two sides highlighted that efforts will be made to conclude the negotiations by the end of 2016.
The result of the fifth round of talks is important to the free trade agreement between Vietnam and the EU, particularly in terms of responsibility in protecting the environment and bio-diversity.
The EU, which makes up about one fourth of the world consumption, is now the fourth largest importer of Vietnam’s timber and wood products, after US, Japan and China.
In the first eight months of 2015, Vietnam’s timber and wood product exports to the EU fetched 442 million USD, while its timber imports from the bloc was 111 million USD.-VNA
Three European Union (EU)-funded projects worth 3 million EUR, which aim to support Vietnam and its neighbouring countries in combating illegal wood exploitation, were officially launched at a ceremony in Hanoi on February 18.
The export of Vietnam’s wood products in 2015 is likely to grow by 15 percent from this year, said Huynh The Hanh, Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City.
Final negotiations to complete a Forest Law Enforcement, Governance and Trade (FLEGT) and Voluntary Partnership Agreement (VPA) between the European Union (EU) and Vietnam is expected to be completed by late 2015.
The European Union (EU), which makes up about one fourth of the world consumption, is now the fourth largest importer of Vietnam’s timber and wood products after US, Japan and China.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative image (Source: VNA)
