Vietnam to Export More Rubber to EU

Vietnam will reduce rubber exports to China, its steadiest and biggest costumer, while intensifying exports to Europe, especially Eastern Europe, including Russia and the Czech Republic in 2007, the Trade Ministry forecast.

 

The country is expected to ship 750,000 tons of rubber abroad this year, up 7 per cent from 2006, at higher prices on the world market.

 

Accordingly, the country will sell 60 per cent of its total rubber shipment to China in 2007, down from 65 per cent in 2006.

 

Vietnam, the world's fourth biggest natural rubber exporter, shipped abroad 697,000 tons of rubber, mainly to China, South Korea, Japan, Germany and the United States, totaling nearly US$1.3 billion in 2006, up 18.7 per cent and 58.3 per cent, respectively, against 2005, according to the country's General Statistics Office.

 

In the first two months of this year, the country exported 115,000 tons of rubber, earning US$189 million. The figures presented on year rises of 0.9 per cent and 4.0 per cent, respectively. (Vietnam Agriculture)