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MARKET BEATS 9
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This new segment presents great opportunities for
enterprises to advance and enhance their competitiveness CIFOR-ICRAF
for sustainable exports.
Vietnamese exports of wood and timber products have

risen steadily every year, from US$6.9 billion in 2015 to a
strong US$16 billion in 2024, with a projected increase to
over US$18 billion by the end of this year.
Therefore, building and developing stable raw material sources
is an essential requirement to enhance the competitiveness
of enterprises.
Currently, domestic forest product raw materials meet only This historic milestone solidifies Ghana's leadership in
about 70 percent of the production and processing needs of sustainable forest governance and legal timber trade.
enterprises. The launching ceremony follows the successful go-live of

Regarding timber, Vietnam still imports an average of Ghana's FLEGT license system on 15 August 2025, marking
5.5–6 million cubic metres of raw wood annually. According to the beginning of verified, legal timber exports.
the Forest Trends, Vietnam has become an important global The launch marks the culmination of about 16 years of
supplier of wood products. reform, collaboration and investment across Ghana's forest
Alongside securing stable raw materials, enterprises must sector, including the ratification of 131 Timber Utilisation
promote the application of science and technology, creating Contracts (TUCs) by Parliament last month, the final regulatory
new structural designs and models to meet market demands, hurdle that cleared the way for implementation.

especially for the high-end product segment. A FLEGT licence certifies that timber and timber-related
The global furniture and wood product trade market holds products exported to the European Union (EU) are legally
great potential, with a trade value of approximately US$430 billion harvested and processed in accordance with Ghanaian laws.
for indoor furniture and US$150 billion for outdoor furniture. Products covered by a valid licence automatically comply
Vietnam’s wood and forest product exports only account with the EU Timber Regulation (EUTR), ensuring seamless
for about six percent of the global market share. access to the EU market while eliminating the risk of illegal
Thus, enterprises need to maintain stable growth in current timber trade.
markets, seek to expand into new and potential markets, and More than 350 industry operators have been trained
foster negotiations and implementation of forestry cooperation in the licensing process, ensuring smooth transactions for

programmes with key countries, especially with countries international buyers.
boasting high trade values. This major roll out also positions Ghana to meet broader
international obligations, including compliance with the EU
Africa's first forest law enforcement, governance and Deforestation Regulation and commitments under global
trade (FLEGT) timber licence is released by Ghana climate change frameworks.
According to MENAFN, Ghana recently officially launches It further affirms Ghana's readiness to supply FLEGT-
the Forest Law Enforcement, Governance and Trade (FLEGT) licensed timber to the EU, eliminating additional due diligence

licence, making it the first African country and the second for buyers and strengthening Ghana's position as a frontrunner
globally after Indonesia to issue this licence. in sustainable forest governance.