Plastic export revenues hit 435 million USD

Hanoi (VNA) - Vietnam earned 435 million USD by exporting plastic staple in the first half of the year, or a year-on-year increase of 38.2 percent.

Among 39 countries and territories importing the plastics from Vietnam ,
Japan continued to be the biggest with turnover in the first five months
of 2008 fetching almost 74 million USD. It was followed by the US with
more than 58 million USD and Cambodia with over 23 million USD.

Despite good export turnovers, many plastic product manufacturers are
facing difficulties due to their heavy dependency on imported materials. At
present, the plastic industry needs around 1.5 million tonnes of materials
per year while the domestic supply can meet only 30 percent of its demand.

To increase the export turnover beyond 1 billion USD this year or a
year-on-year rise of 43 percent, the Ministry of Industry and Trade called
on plastic product manufacturers to fully tap the domestic material sources
and invest in renewing production technology to raise their products'
quality and competitiveness.

Apart from the Republic of Korea , Australia , France , Malaysia and
other traditional markets, plastic producers should increase trade promotion
activities in other European Union member countries, including the Czech
Republic , Estonia , Hungary and Poland , as well as African and Middle
East nations, the ministry said.-Enditem