Written on 28.06.2013 - Industry
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VIETNAM: Plastics industry breaks export mould

Increasing global demand for plastic products has provided opportunities for Vietnamese manufacturers to expand their markets, according to the Industry and Trade Information Centre.

Statistics showed that by 15 June 2013, the export turnover of the plastics industry had reached USD 771.7 million and was forecast to increase the in coming months.

Japan was the largest importer of Vietnamese plastic products, with turnover of USD 163.3 million in the first five months of the year, followed by the US (USD 76.6 million), Cambodia (USD 60.1 million) and Germany (USD 44.1 million).

Vietnam exported a diversified range of products, from plastic bags to household commodities and industrial plastics. Vietnamese-made plastic bags are now present in nearly 60 markets around the world.

This was a great opportunity for domestic plastics producers to boost exports to difficult markets as many were shifting from importing products from China, according to Thoi Bao Kinh Te Viet Nam (Vietnam Economics Time).

It was important to improve product quality and enhance competitiveness to grasp this chance, experts said.

The plastics industry plans to produce high-quality and environmentally-friendly products with diverse range of types and models together with increasing the proportion of technical plastics and plastic products for construction.

According to the Vietnam Plastics Association, the plastics industry was expected to grow at a rate of 11 - 13.5 % this year to reach USD 2.2 billion in export turnover.

Last year's export turnover hit USD 1.98 billion, representing a 42 % increase over 2011.

Source: Daily "Vietnam News", Hanoi; 26 June 2013

(Syed Rashid Ali, Karachi, Pakistan)

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