Kitchens2020 DIGITAL_FULLMAG | Page 74

Canadian Home Trends Magazine and VIFA Vietnam – Asia’s “New Star” of the furniture industry. Vietnam is now becoming one of the brightest stars in wood-based furniture production and exports for the world. Furniture exports account for about 6% of the global market share, with large markets as USA, Japan, China, EU, Korea and some new potential markets such as Canada, Russia, and India. In the first nine months of 2019, Vietnam’s export value of timber, wood products and non-timber forest products was estimated at US $7.93 billion. It increased by 18% over the same period in 2018 and is striving for 2019 to reach US $11 billion, 2020 to reach US $13 billion, and 2025 to reach US $20 billion. By September 2019, Vietnam had over 5,500 enterprises with 340 villages producing and trading wood and forest products. Among those, 2,372 enterprises export timber, wooden products and non- timber forest products. The key to Vietnam’s success lies with flexibility by manufacturers and access to sustainable, legally imported and local plantation materials. Vietnam’s wood processing industry, after a development and improvement stage, has built a strong foundation of production capacity with VIFA Expo innovation in technology and machines and by gradually improving business administration, learning about product standards and improving design, has provided flexibility producing customer requirements. With strong government support and progress in environmental legislation, the industry is ready to go further. With the signing of the Voluntary Partnership Agreement (VPA) / Forest Law Enforcement, Governance and Trade Agreements (FLEGT) with the EU (European Union) on the implementation of the law on forestry, forest governance and trade in forest products, effective from June 1 st 2019, and the FTA Agreements such as: Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and The European Union Vietnam Free Trade Agreement (EVFTA), Vietnam’s furniture products for export are gaining more and more dominance in the world market. These are the key factors that help Vietnam’s wood processing industry to continuously grow to become a “new star” of the Asian furniture industry. This confirms its position and prestige in the International market. In Vietnam, the Vietnam International Furniture & Home Accessories Fair (VIFA EXPO) is the biggest event showcasing furniture for export in the country, and one of the leading furniture fairs in the ASEAN region. VIFA EXPO 2020 is scheduled from March 11 th -14 th 2020 at Saigon Exhibition & Convention Center (SECC) – 799 Nguyen Van Linh Parkway, District 7, Ho Chi Minh City will clearly show the image of Vietnam’s furniture industry. The fair will gather about 500 Vietnamese and oversea exhibitors who will participate in 2,300 booths, on the total fair scale of 35,760 m2. For more information, please visit www.vifafair.com or contact: HAWA CORPORATION 185 Ly Chinh Thang Str., W.7, Dist.3, Ho Chi Minh City, Vietnam Tel: +84.28.3526 4714 / 15 / 16 Email: [email protected] Social channel: www.facebook.com/vifafair