Free trade agreements (FTAs) have opened up opportunities forVietnamese plastic businesses to expand their export markets, theVietnam Economic News reported.
According to the newspaper, theVietnamese plastic industry needs to build production connectivity tohelp businesses tap and secure market positions, aimed at obtainingsustainable development in the long run.
The country exportedplastic products worth an estimated 992.12 million USD in the first halfof 2014, up 17.61 percent from the same period last year.
Japan remained the biggest importer of Vietnamese plastic products.It shipped plastic products worth 245.98 million USD from Vietnam inthe first half of this year, accounting for 25 percent of Vietnam ’splastic exports in that period, up 25.11 percent from the same periodlast year.
The US was the second biggest importer with atotal import value of 125.5 million USD in the first half of this year,accounting for 12.65 percent of Vietnam ’s plastic exports in thatperiod and up 38.69 percent from the same period last year.
The EU market provided many opportunities for Vietnamese plasticbusinesses. Importers highly appreciated the quality of Vietnameseplastic products so their orders to Vietnamese exporters grew in value.Vietnamese plastic exports to Germany were 55.97 million USD in thefirst half of this year, up 6.26 percent from the same period of 2013,while those to the Netherlands amounted to 50.97 million USD, up19.96 percent. Plastic exports to EU markets grew 3-6.1 percent peryear.
India is expected to be a promising market forVietnamese plastic products in the future. The demand for plasticproducts in Indian industries increased and the demand for packaging inIndia soared considerably. The boom in infrastructure, agriculturalmodernisation, rising incomes and the concentration of population inurban areas also increased the demand for industrial and civil plasticproducts.
Vietnam Plastics Association Chairman Ho Duc Lam saidthat the plastic industry focused on both quality and quantity to servefor exports. Vietnamese plastic exports in 2014 are expected to grow13.5-16.5 percent over 2013.
In the context of economicintegration, Vietnamese plastic businesses need to renovate technology,improve product quality and design and learn about the market’s newtrends. They need to modernise technology and production lines, focus ondeveloping environmentally friendly products,
In the long term,Vietnamese businesses need to build production connectivity to formmajor product supply chains, giving priority to product qualityimprovement, Lam said.-VNA
According to the newspaper, theVietnamese plastic industry needs to build production connectivity tohelp businesses tap and secure market positions, aimed at obtainingsustainable development in the long run.
The country exportedplastic products worth an estimated 992.12 million USD in the first halfof 2014, up 17.61 percent from the same period last year.
Japan remained the biggest importer of Vietnamese plastic products.It shipped plastic products worth 245.98 million USD from Vietnam inthe first half of this year, accounting for 25 percent of Vietnam ’splastic exports in that period, up 25.11 percent from the same periodlast year.
The US was the second biggest importer with atotal import value of 125.5 million USD in the first half of this year,accounting for 12.65 percent of Vietnam ’s plastic exports in thatperiod and up 38.69 percent from the same period last year.
The EU market provided many opportunities for Vietnamese plasticbusinesses. Importers highly appreciated the quality of Vietnameseplastic products so their orders to Vietnamese exporters grew in value.Vietnamese plastic exports to Germany were 55.97 million USD in thefirst half of this year, up 6.26 percent from the same period of 2013,while those to the Netherlands amounted to 50.97 million USD, up19.96 percent. Plastic exports to EU markets grew 3-6.1 percent peryear.
India is expected to be a promising market forVietnamese plastic products in the future. The demand for plasticproducts in Indian industries increased and the demand for packaging inIndia soared considerably. The boom in infrastructure, agriculturalmodernisation, rising incomes and the concentration of population inurban areas also increased the demand for industrial and civil plasticproducts.
Vietnam Plastics Association Chairman Ho Duc Lam saidthat the plastic industry focused on both quality and quantity to servefor exports. Vietnamese plastic exports in 2014 are expected to grow13.5-16.5 percent over 2013.
In the context of economicintegration, Vietnamese plastic businesses need to renovate technology,improve product quality and design and learn about the market’s newtrends. They need to modernise technology and production lines, focus ondeveloping environmentally friendly products,
In the long term,Vietnamese businesses need to build production connectivity to formmajor product supply chains, giving priority to product qualityimprovement, Lam said.-VNA
