There is plenty of room available for Vietnamese goods to enter the UK market, said Thai Tran, Managing Director of TT Meridian, an international logistics and trading company specialising in the UK and Vietnam markets and the first Vietnamese business in the UK to open an all-cargo air route between the nations via Turkmenistan.
Six Vietnamese companies showcased their food and beverage products at the Food & Drink Expo 2023 at the National Exhibition Centre (NEC) in Birmingham city on April 24 – 26 with the support of the Vietnam Trade Office in the UK and the EUTEK Group.
The Cao Phong orange from the northern province of Hoa Binh is now officially put up for sale in the UK, marking the return of this specialty to the global market after over 40 years.
“Dien” pomelos from Yen Thuy district in the northern province of Hoa Binh are now on the shelves of Longdan supermarkets in the UK for the first time and been welcomed by the Vietnamese community and local consumers.
There remains potential for Vietnam and the UK to tap the UK-Vietnam Free Trade Agreement (UKVFTA) and expand bilateral trade ties, said Ngo Chung Khanh, Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Multilateral Trade Policy Department.
A ceremony was held in Tan Lac district in the northern province of Hoa Binh on November 24 to mark the shipment of the first batch of 5,400 red-flesh pomelos to the UK.
Ho Quang Tri Private Enterprise on September 9 signed a contract for ST25 rice with UK-based EUTEK Group Limited to distribute Ong Cua ST25 fragrant rice to the UK market.
The new-generation free trade agreements (FTAs), such as the UK-Vietnam FTA, have opened up many opportunities for Binh Dinh province's exports, according to the provincial Department of Industry and Trade.
Vietnamese businesses are advised to better exploit the UK-Vietnam Free Trade Agreement (UKVFTA) to build and develop brands and expand their presence in the UK market amid stiffer competition driven by the “Global Britain” policy.
A conference will be co-held on June 23 by the Ministry of Industry and Trade (MoIT), the British Embassy in Vietnam and the British Chamber of Commerce Vietnam (BritCham) to support Vietnamese enterprises to join the supply chain of British enterprises.
Vietnamese firms are advised to change themselves towards increased application of high technology and stronger digital transformation to improve their products’ quality and optimise the UK-Vietnam Free Trade Agreement, thus better conquering this promising market.
After the UK-Vietnam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic.
Vietnam enjoyed a 1.5 billion USD trade surplus with the UK for the first four months of 2018 as the country exported 1.75 billion USD worth of goods to the market and imported 238 million USD.
Strong trademark with certified international health and environmental standards will bring more Vietnamese commodities to the UK market, heard a conference in Hanoi on September 9.
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