UK foods-beverages businesses eager to explore Việt Nam: report
British businesses are eager to explore Việt Nam as a new market to introduce a variety of high-quality food and drinks, according to the UK – Việt Nam agri-trade report released by the British embassy in Hà Nội on Wednesday.
British businesses are eager to explore Việt Nam as a new market to introduce a variety of high-quality food and drinks, according to the UK – Việt Nam agri-trade report released by the British embassy in Hà Nội on Wednesday.
The “Connecting the UK and VN in Agriculture, Food and Drinks” report, commissioned by the embassy and done by Edelman Global Advisory, delves into the dynamics of the bilateral agricultural trade relationship, identifying growth opportunities for their agriculture sectors.
Speaking about the report, British ambassador Iain Frew said: “This report sets out how we can build on trade partnerships to fully realise the opportunities presented by both markets. I look forward to the continued positive trajectory on agri-trade between the UK and Việt Nam, and thank you for your interest in buying British products.”
The report points to the facts that Việt Nam's economy is likened to a rising dragon in the Asia Pacific region and that, with its youthful and increasingly affluent population, and growing middle class and sophisticated consumer preferences, the market has demand for high-quality and foreign-sourced products, presenting a great opportunity for UK food and drink exports.
Food and drinks is the largest manufacturing sector in the UK, and has rigorous regulations and certification processes, it says.
Moreover, the UK - Việt Nam Free Trade Agreement (UKVFTA) has been opening new avenues for Vietnamese consumers to access high-quality British foods and drinks, it says.
Furthermore, the UK's impending accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2024 promises even closer bilateral trade relations, it adds.
Speaking at the launch, UK Trade Commissioner for the Asia Pacific, Martin Kent, said: “UK products are internationally renowned for high quality and adherence to world-leading food safety, animal health, and welfare standards. We’re very excited that Vietnamese consumers will soon get to experience the best of British.”
Major UK agricultural exports to Việt Nam include whisky, seafood and confectionery, while its imports are of tropical fruits, coffee, nuts, and seafood. – VNS
