HANOI, VIETNAM -- Vietman, the second leading source of U.S. wood furniture imports, is suffering the aftershocks of the global economic crisis, according to Viet Nam Business News.
VNBN reported that Vietnamese woodworking exporters are paying 20 to 30 percent more for wood supplies while facing many stricter regulations from importing markets, including the U.S. Lacey Act, which holds parties to international trade accountable and responsible for dealing in illegal wood. Vietnamese companies are also facing the prospect of new regulations among European Union nations to discourage illegal logging.
Read the VNBN's report.
Have something to say? Share your thoughts with us in the comments below.