UKVFTA hoped to push door larger for Vietnamese agricultural exports

Update: 19:00 | 14/02/2021
The UK-Viet Nam Free Trade Agreement (UKVFTA), which came into effect from January 1, will open the door larger for Viet Nam’s key agricultural exports to the UK, Minister of Industry and Trade Tran Tuan Anh has said.
UKVFTA hoped to push door larger for Vietnamese agricultural exports: Minister Tran Tuan Anh
Dragon fruit harvesting in Viet Nam. (Photo: VNA)

Since becoming effective from August 2020, the EU-Viet Nam Free Trade Agreement (EVFTA) has created a big push for Viet Nam’s agricultural exports such as seafood, rice, vegetables and fruits, and wood products to the UK,

As the UKVFTA inherits existing commitments in the EVFTA and contains those to market opening the same as the EVFTA, plus additional quotas for competitive products, Vietnamese businesses will see more export opportunities.

Nguyen Dinh Tung, Chairman and CEO of Vina T&T Group – a leading fruit exporter, said the UK is a big market for vegetables and fruits in Europe with diverse import demands.

According to him, Viet Nam’s vegetables and fruits could be exported to the UK in particular and the EU in general, if they win orders and meet the countries’ requirements on food safety and plant quarantine.

The UK also has a huge demand for wood and wood products, which creates numerous opportunities for Vietnamese exporters as their merchandise has competitive prices, good materials and high quality.

General Secretary of the Viet Nam Association of Seafood Exporters and Processors (VASEP) Truong Dinh Hoe said that the UK is also a potential market for Viet Nam’s aquatic products.

Despite the COVID-19 pandemic, the export value of Vietnamese aquatic products to the UK had hit nearly 258 million USD as of late September 2020, up 23 percent year-on-year.

The pandemic is changing the UK’s the consumer and import trends, with cheap products easy to consume and cook at home being a top choice.

Therefore, frozen tra fish of Viet Nam has a huge advantage and has become a key export of the Vietnamese agricultural sector.

However, insiders said that the UKVFTA also brings about more challenges with stricter requirements.

They advised Vietnamese businesses to improve production, harvesting, preservation and processing to gain better product quality.

First batch of Vietnamese rice exported to UK under UKVFTA
Differences between UKVFTA and EVFTA
UKVFTA to benefit UK - Viet Nam trade relations: British Ambassador Gareth Ward
UK-Viet Nam FTA to become effective from 23:00 on December 31
British PM's Trade Envoy: UKVFTA ushers in a bright future for UK - Viet Nam ties

(Source: VNA)