New Zealand and Vietnam Agree to Enhance Cooperation in the Forestry Sector
New Zealand bolsters timber exports to Vietnam
On Tuesday, New Zealand Forestry and Trade Minister Todd McClay announced a new arrangement with Vietnam that will enhance cooperation between both countries in the forestry sector, the Vietnam Investment Review reported (5-29-25).
According to the cooperation agreement, New Zealand will increase timber exports while Vietnam will remove potential trade barriers. The arrangement will see New Zealand’s radiata pine recognized under Vietnam’s evolving timber construction standards, opening more opportunities in this growing market.
“This will grow our $2.68 billion two-way trade and significantly bolster the $48 million worth of sawn timber we currently export to Vietnam,” McClay said.
McClay emphasized that Vietnam’s economy has more than doubled in the past decade and is expected to see some of the fastest global income growth over the next.
This agreement is expected to add value to New Zealand wood products and offer opportunities in addition to exporting logs. It boosts New Zealand’s export potential and helps double the country’s exports by value in 10 years.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.