Vietnamese furniture products introduced at UK exhibition
Vietnamese furniture products introduced at UK exhibition
Furniture products of six Vietnamese businesses were displayed at the January Furniture Show (JFS) 2023, the largest annual furniture show in the UK, at the National Exhibition Centre (NEC) in Birmingham this week.
The Vietnamese booths, featuring interior and exterior wooden and home decor products, handicrafts, hotel furniture, and lighting equipment, attracted many UK wholesalers and retailers, as well as visitors.
Vietnamese Trade Counselor in the UK Nguyen Canh Cuong said the exhibition has offered a good opportunity for Vietnamese firms to introduce high-quality products and meet potential importers and distributors.
As the third largest furniture producer and exporter in the world, and the largest in Southeast Asia, Viet Nam boasts products meeting the requirements of the UK market, he said, stressing that Viet Nam needs to actively attend fairs like JFS in order to seek and set up partnerships with British businesses.
Zoe Bonser, Retail Manager of NEC, said that with more than 15,000 visitors, JFS gives a great chance to businesses, and those from Viet Nam in particular, to gain easier access to the UK market.
In 2022, Viet Nam earned US$239.66 million from exporting wood and wood products to the UK, accounting for nearly 4 per cent of its total export value to the European country.
According to the Vietnam Trade Office in the UK, the export of wood products and handicrafts to the UK sees good prospects because this is the world's fifth largest furniture market, and the second largest in Europe with a forecast annual growth of 3.2 per cent for the 2021-2026 period. In particular, many wood products will enjoy a tax rate of 0 per cent within the next five years in line with the UK – Vietnam Free Trade Agreement (UKVFTA).
The Vietnam Timber & Forest Products Association (VIFORES) reported that the country’s furniture exports hit an estimated $16 billion in 2022. The wood industry has set a target of earning $25 billion in export value by 2030.
