In his opening speech, Deputy Minister of Industry and Trade Nguyen Thanh Bien said wood is one of the principal exports of Vietnam. Its wood products are now being sold in 120 countries and territories worldwide. This achievement can be credited to businesses constantly seeking new markets, upgrading their equipment and training highly-skilled professionals.

The event, organised by the HCM City Handicraft and Wood Industry Association, has drawn as many as 600 stands from 150 businesses, many of them from Malaysia, Singapore, the UK and China.

The fair aims to help wood and handicraft businesses increase their exports, as well as both domestic and foreign entrepreneurs find new partners and new suppliers.

In coordination with VIFA 2010, a seminar was held to explore Italian wood import businesses, new technology in perfecting wood products, and a Vietnam-Germany forestry development programme.

Last year’s VIFA drew 15,000 visitors from 59 countries and territories and resulted in the signing of many major contracts worth US$70 million in total.