Timber seminar takes aim at global markets

The HCM City wood industry association held a seminar yesterday in which experts explained how to identify timber species and measure and classify their quality.

The Handicraft and Wood Industry Association of HCM City (HAWA)’s seminar aimed to provide attending industry executives more knowledge about global markets and strategies to survive during the current economic downturn.

Delegates agreed that businesses should be more cautious while making investment decisions due to foreign exchange volatility, develop vertically, and not spread themselves too thin.

HAWA figures show that the country earned more than US$1 billion from timber exports in the first five months. The target for the year is $2.8 billion.

Malaysia, Laos, and the US were the largest suppliers of timber to the country.

The industry has around 2000 businesses now, most of them small-sized. It has experienced good times since 2000 when exports were a mere $200 million. By last year they had risen to $2.4 billion. (VNS)