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Therefore, Vietnamese businesses exporting agricultural products to the UK, especially coffee , need to take advantage of the UK-Vietnam Free Trade Agreement (UKVFTA) and strategies to reach potential partners to expand exports to this market .
The Vietnam-UK Free Trade Agreement, signed at the end of 2020, has given many Vietnamese agricultural products a competitive advantage in the UK market compared to similar products from countries that have not yet reached an agreement, the Vietnam Commerce Department in the UK said
.
.
At the same time, British companies need to find suppliers outside the EU after Brexit, so the two sides see an opportunity for cooperation
.
Every year, British businesses import large quantities of agricultural products, especially coffee, to meet market demand
.
.
Every year, British businesses import large quantities of agricultural products, especially coffee, to meet market demand
.
The Export Bureau of Vietnam’s Ministry of Industry and Trade quoted data from the International Trade Center showing that in 2021, the United Kingdom will import 203,380 tons of coffee, a year-on-year decrease of 12.
7%; the import value is 945.
56 million US dollars, a year-on-year decrease of 6.
2%
.
In 2021, the average import price of coffee in the UK will be US$4,649/ton, a year-on-year increase of 7.
5%
.
.
7%; the import value is 945.
56 million US dollars, a year-on-year decrease of 6.
2%
.
In 2021, the average import price of coffee in the UK will be US$4,649/ton, a year-on-year increase of 7.
5%
.
.
In 2021, the United Kingdom imported 34,650 tons of coffee from Vietnam, a year-on-year decrease of 35.
5%; the import value was US$66.
16 million, a year-on-year decrease of 31.
1%
.
The market share of Vietnamese coffee in the UK’s total coffee imports dropped from 23.
03% in 2020 to 17.
04% in 2021
.
5%; the import value was US$66.
16 million, a year-on-year decrease of 31.
1%
.
The market share of Vietnamese coffee in the UK’s total coffee imports dropped from 23.
03% in 2020 to 17.
04% in 2021
.
At present, the British government is actively implementing the "Global Britain" trade strategy to promote exports
.
The UK is also preparing to open its domestic market in a "peer-to-peer" manner with foreign partners through free trade agreements
.
.
The UK is also preparing to open its domestic market in a "peer-to-peer" manner with foreign partners through free trade agreements
.
At the same time, promote the negotiation of free trade agreements with 19 countries or international alliances, among which priority is given to major trading partners such as the European Union, the United States, Japan, and India
.
.
In addition, the UK has also decided to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which means the UK is ready to open up markets for many products from the 11 member countries participating in the agreement
.
By then, many Vietnamese products in the UK market will have to compete with strong competitors from CPTPP countries
.
.
By then, many Vietnamese products in the UK market will have to compete with strong competitors from CPTPP countries
.
Therefore, Vietnamese enterprises need to quickly seize the opportunities brought by UKVFTA
.
In particular, companies must organize production in accordance with British and European standards, and actively establish and develop customer relationships with large distribution groups
.
.
In particular, companies must organize production in accordance with British and European standards, and actively establish and develop customer relationships with large distribution groups
.
In particular, it is necessary to actively master the shipping storage technology of agricultural products; effectively use the preferential credit policies of British banks and customer credit assessment verification services
.
.
As for coffee, experts say that in order to stabilize coffee exports to the UK, the Vietnamese coffee industry needs to meet the increasingly stringent requirements of this market
.
In addition, the product must suit the tastes of UK consumers
.
.
In addition, the product must suit the tastes of UK consumers
.
In order to assist Vietnamese enterprises to expand the export of agricultural products to this market, the Vietnamese Commercial Office in the UK has made continuous efforts to hold various trade matching activities to expand market share
.
It is expected that in the fourth quarter of 2022, the Vietnam Commercial Office in the UK will attend the 2022 Ireland International Food and Hotel Exhibition to promote the export of Vietnamese agricultural products, food and beverages to the UK
.
(Finish)
.
It is expected that in the fourth quarter of 2022, the Vietnam Commercial Office in the UK will attend the 2022 Ireland International Food and Hotel Exhibition to promote the export of Vietnamese agricultural products, food and beverages to the UK
.
(Finish)
