中文 (中国)In British supermarkets, there are many products of Vietnam, such as pepper, cashew, coffee, seafood… Particularly, Vietnamese cashew nut accounts for 90% of the amount of cashew in the UK.
This is information given by Mr. Chris Milliken, Vice President of the British Chambers of Commerce in Vietnam (Britcham) at the Workshop “Taking the UK market potential, taking advantage of UKVFTA”, organized by the Trade Office of The European-American market (Ministry of Industry and Trade) held in morning, June 23.
Along with the UK-Vietnam Free Trade Agreement (UKVFTA) taking effect, the two countries’ trade turnover in 2021 recorded an impressive growth in the context of the COVID-19 pandemic.
Specifically, two-way trade turnover between Vietnam and the UK in 2021 will reach 6.6 billion USD, up 17.2% compared to 2020. In which, Vietnam’s exports will reach nearly 5.8 billion USD, up 16.4%, UK exports reached 849 million USD, up 23.6%.
In the first 5 months of 2022, due to still being affected by the COVID-19 pandemic and the complicated geopolitical situation in the world leading to disruptions in the global production and supply chains, the two-way trade Vietnam-UK reached 2.68 billion USD, equivalent to the turnover in the same period of 2021.
Assessing the potential for export to the UK market, Ms. Nguyen Khanh Ngoc, Deputy Director of the Europe-America Market Department, said that agricultural, forestry and fishery products, which are Vietnam’s strengths, are also being sold. great export potential to the UK market.
In order to increase the market share of Vietnamese goods in the UK market, Ms. Khanh Ngoc said that Vietnamese enterprises need to organize production according to British quality standards and understand the procedures for exporting to the UK. Along with that, businesses need to continue to improve product quality by investing in preservation and transportation technology, especially agricultural products; need to pay attention to trademark registration and protection in the UK.