Plastic exports to the European market have felt the effects of the continuous decline of the euro over the past six months.
"Our profit from the European market in the first half of this year fell by 10 per cent," said director of a plastic company in Ha Noi.
He said that his company's European partners asked them to reduce their price but he couldn't due to the high cost of raw materials. Their partners then reduced orders from 5,000 tonnes of plastics to 3,000 tonnes, he added.
A representative of Nam Thai Son Import - Export Joint Stock Company, said that the downtrend of the euro affected his company because the company signed contracts with partners when one euro exchanged for US$1.3. At present, the exchange is around $1.1, causing big losses for importers who are now rescheduling orders or changing to other commodities, the representative added.