Ministry of Industry and Trade said that export turnover of plastic products is likely to reach $ 1 billion, increasing nearly 43% over last year.

According to the Ministry of Industry and Trade, in 2007, this export item reached $ 750 million, one of the fastest growing export items, with a large export market. Vietnam has relatively good market penetration for plastics, enjoying low tariffs or treated equally with other exporting countries in most of markets.

Vietnam plastic products are highly competitive, because the technology has access to modern technology of the world and accepted by the market.

Demand for this item on the world market is huge, with an average import growth of over 7% per year. In particular, the plastic products are being consumed in three markets are the United States, the EU and Japan. Only plastic packaging products, each year the EU imports more than 500,000 tons, Japan imports 480,000 tons; While the market share of these items is less than 1% in the United States, nearly 3% in Japan and 5% in EU.

In order to boost export of plastic products, Vietnamese plastic enterprises should speed up the production and modernization of technological equipment to reduce production costs and export of products with high added value. In addition to maintaining the current export markets, plastic companies should approach and expand the market of new EU member states such as Czech Republic, Hungary, Hungary, Poland and African countries and Middle East.

In addition, businesses need to improve the quality, product design as well as meet the large orders, plastic items of Vietnam fully capable of export on a large scale.