VOV.VN - Vietnam is likely to replace India and Indonesia in supplying agro-forestry-fishery products to the UK market, experts said at a workshop held on June 23 to seek to fully tap into the UK's market potential from the UK-Vietnam Free Trade Agreement (UKVFTA).
Think tanks emphasised that there remains plenty of room for advantageous Vietnamese agro-forestry-fishery products to penetrate British supermarket chains due to the ongoing transition of supply chains.
Furthermore, with the import tax into the UK slashed to 0% after January 1, 2021, several Vietnamese goods now enjoy more competitive advantages in the UK market in comparison to similar products from other exporters.
However, experts suggested that Vietnamese exporters should carefully examine the UK’s market demand, quality standards, and export procedures before penning contracts with UK partners to avoid risks.
Oliver Todd, British Consul General in Ho Chi Minh City, highlighted the country’s position in Southeast Asia, stating that Vietnam can replace major exporters such as India and Indonesia to become a new supplier of agricultural and aquatic products for the UK.
Representatives of businesses and associations affirmed that there are bright prospects ahead for traditional Vietnamese products such as wood, cashew nuts, and rice to make inroads into the market, especially following the enforcement of the UKVFTA.
Vietnamese enterprises were advised to grasp clear information about regulations, food hygiene, and safety standards, as well as export procedures, before shipping products to the UK. In addition, they were also requested to change production models to meet stringent requirements set by the fastidious market, said Nguyen Ngoc Dai Trang, executive director at British Standards Institution (BSI Group).