Vietnam exports 34,680 tonnes of coffee worth 70.68 million USD to the UK in the first eight months of 2022. (Photo: VNA) Under the UKVFTA, import duties willbe eliminated for 99.2% of the tariff lines, equivalent to 99.7% of Vietnam’sexport revenue, after six years since the deal took effect.
Therefore, businesses should quicklymove to seize opportunities brought about by the agreement, which officially cameinto force on May 1, 2021, the agency recommended.
Experts saidto increase Vietnamese goods’ presence in the UK, businesses should alignproduction with British quality standards, grasp export procedures, andcontinue improving product quality by upgrading preservation and transportationtechnology, especially for farm produce.
Firms were also suggested to pay moreattention to registering and protecting brands in the UK while proactivelyseeking partnerships with major distributors in the market.
Vietnam shipped 34,680 tonnes ofcoffee worth 70.68 million USD to the UK in the first eight months of 2022, up57.9% in volume and 84.2% in value from a year earlier. Export prices also rose16.6% to 2,038 USD per tonne, according to the MoIT.
The share of Vietnamese coffee in theUK’s total imports surged to 29.92% in the first half of 2022 from 16.33% inthe same period last year./.
VNA
