Vietnam’s plastic exports to soar 30pct

Vietnam’s plastic exports are forecast to hit US$1.3 billion, making yearonyear surge of 30%, according to the country’s Ministry of Industry and Trade (MoIT).
Export turnover of plastic products was estimated to reach US$840.7 million in the first eight months, up 28% against the same period last year.

MoIT predicted that the export would surge sharply in the remaining months of the year.

Vietnam chiefly exported packing plastic to Japan, Germany, the UK, the US and Cambodia, and household plastic products to Indonesia, the US, Germany, Cambodia and Japan.

Japan is a relatively potential market for Vietnamese plastic exporters as it is seeking industrial products for the installment of electric systems.

Meanwhile, Vietnamese exporters are trying to penetrate into other foreign markets like the UK, the EU, and other Southeast Asian countries.

The MoIT asked plastic exporters to apply concentrated business strategies, handle big contracts, develop the recycling industry and establish ties with international commercial agencies to successfully penetrate into potential markets.

Tags: Vietnam Plastic exports