Thuan Duc JSC looks to boost exports to EU

July 06, 2019 | 17:21

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Thuan Duc JSC, a packaging firm in northern Vietnam, is planning to boost exports of recycled shopping bags to the EU and the US to cash in on growing demand and to benefit from the EU-Vietnam Free Trade Agreement.

thuan duc jsc looks to boost exports to eu

The recycled shopping bags of Thuan Duc JSC

According to Bui Quang Sy, deputy general director of Thuan Duc JSC, the factory now produces about 10 million products a month for exports.

“As the demand for recycled shopping bags is growing, the company plans to increase its capacity to 20 million products a month. The EU and the US will be among our main targets in the future,” he told VIR.

At present, recycled shopping bags are one of the company’s three main products, along packaging for agro products and for industrial products. Recycled shopping bags make up 50 per cent of Thuan Duc's total revenue structure.

Last year, the company saw a 170 per cent increase in production output. In particular, recycled shopping bags fetched a revenue of $2 million.

“While the demand is growing, there are two to three companies producing recycled shopping bags in the northern region. Therefore, we have huge opportunities to develop in the future,” Sy noted.

Now with the signing of the EU-Vietnam Free Trade Agreement, which is expected to be approved by the European Parliament (EP) later this year or in early 2020, more opportunities will open up for Thuan Duc JSC and other Vietnamese firms to boost exports to the EU.

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