Hanoi, May 28 -- New Zealand Forestry and Trade Minister Todd McClay on May 27 unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the forestry sector between the two nations.

Under the agreement, New Zealand's radiata pine will be recognised under Vietnam's evolving timber construction standards, paving the way for increased market access in the rapidly developing Vietnamese market.

Minister McClay highlighted that the pact is expected to drive growth in the 2.68 billion NZD (1.59 billion USD) bilateral trade and expand the 48 million NZD worth of sawn timber New Zealand currently ships to Vietnam.

He emphasised Vietnam's strong economic trajectory, noting that its ec...