New Zealand Forestry and Trade Minister Todd McClay announced a new arrangement with Vietnam on May 27 to enhance cooperation in the forestry sector.
According to the cooperation agreement, New Zealand will increase timber exports while Vietnam will remove potential trade barriers.
The arrangement will see New Zealand’s radiata pine recognised under Vietnam’s evolving timber construction standards, opening more opportunities in this growing market.
“This will grow our $2.68 billion two-way trade and significantly bolster the $48 million worth of sawn timber we currently export to Vietnam,” McClay said.
McClay emphasised that Vietnam’s economy has more than doubled in the past decade and is expected to see some of the fastest global income growth over the next. That means more construction, more demand for sustainable products, and more opportunity for New Zealand timber.
This agreement is expected to add value to New Zealand wood products and offer opportunities in addition to exporting logs. It boosts New Zealand’s export potential and helps double the country’s exports by value in 10 years.
As reported by Wood Central, Vietnam is closing in on Australia, which is New Zealand’s fourth-largest market for lumber (behind China, the US, and South Korea).
“Forestry is an important sector for New Zealand, significantly contributing to our trade relations with Vietnam. New Zealand’s timber exports to Vietnam were valued at NZ$80 million ($50.8 million) in the year ending 2018, making this our second-largest export sector,” said the then-New Zealand ambassador to Vietnam Wendy Matthews.
“This agreement successfully combines New Zealand’s sustainable radiata pine with Vietnam’s expertise to enable Vietnamese furniture manufacturers to produce sustainable, strong, and high-quality products,” she said.
New Zealand and Vietnam upgrade ties to a Comprehensive Strategic Partnership
Prime Minister Christopher Luxon and his Vietnamese counterpart, Prime Minister Pham Minh Chinh, on February 27 announced the elevation of the New Zealand-Vietnam relationship to a Comprehensive Strategic Partnership.
New Zealand’s McCrae Hospitals and Orion Health expand Vietnam footprint
A signing ceremony with New Zealand Prime Minister Christopher Luxon and Franco-Vietnamese (FV) Hospital Group in Ho Chi Minh City marked the first milestone in preparation for the launch of ambitious Kiwi health tech innovation firm McCrae Hospitals, as well as Orion Health’s ongoing commitment to the region.
Vietnam-New Zealand partnership shaping the future of global education
In 2025, New Zealand is making its biggest push yet to attract Vietnamese students, boosting Manaaki Scholarships to 39, while offering a record 45 New Zealand Schools Scholarships, and introducing 14 New Zealand Universities Awards for the first time. Amanda Malu, Chief Executive of Education New Zealand, shared insights with VIR’s Hazy Tran on study opportunities for Vietnamese students in this country and its vision to become a global education hub with a world-class education system.