Vegetables and fruits

Vietnam agricultural products exported to Thailand have increased sharply in the first months of 2021. Dragon fruits exported to Thailand Statistics from the Department of Agro-Processing and Market Development show that total fruit and vegetable export revenue in January was USD260m, a decrease of 7.6% compared to the same period last year. China continues to be the biggest importer of Vietnamese fruit and vegetable with USD147m worth of products. The US is in second place with USD16.3m, Japan and South Korea followed with USD10.5m and USD9.2m, respectively. More notably, the total export revenue to Thailand has been on the rise. Vietnam often had an import surplus of fruit and vegetables from Thailand but the situation changed in 2020 when Vietnam exported USD157m worth of vegetables and fruits to Thailand, an increase of 209.7% compared to 2019. Vietnam imported USD78m worth of vegetables and fruits from Thailand in 2020, a huge decrease from 2019's USD487m worth of products. In December 2020, Vietnam imported USD8.5m and exported USD8.2m worth of products from Thailand. In January, Vietnam imported USD7.2m worth of products from Thailand and exported USD16.2m worth of products. The majority of the products exported to Thailand are dragon fruits, mango, longan and litchi. …

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The Hanoitimes - The initial results of the UK-Vietnam Free Trade Agreement promise to continue creating new impetus for economic and trade cooperation between the two countries in the coming time. Since the UK-Vietnam Free Trade Agreement (UKVFTA) took effect on January 1, the bilateral trade turnover between the two countries has recorded a spectacular rise in the context of exports disruption due to the Covid-19 pandemic, according to the Ministry of Industry and Trade. Vietnamese rice exports to EU. Photo: Vinaseed According to the General Department of Vietnam Customs, in January, the total trade turnover between Vietnam and the UK reached US$657.3 million, up 78.6% over the same period last year. Vietnam's exports to the UK reached US$598 million worth of goods, up 84.6% compared to last January and 56.5% to last December. Among Vietnam's exports to the UK,  farm produce attained stable and positive growth in January, with seafood reaching US$19.7 million, representing a rise of 18.1% over the same period last year, and vegetables and fruits with US$1 million, increasing 148.6%. Chart: Phi Nhat Vietnamese shipments to the UK get opportunities to rise drastically and expand market share thanks to many tariff preferential treatment under the agreement, according to the MoIT. Under the trade deal, more than 94% of the total 547 tariff lines of vegetable and fruit will be reduced to zero. Many Vietnamese key products such as litchi, longan, rambutan, dragon fruit, pineapple and melon will have more market access advantages over tropical fruits originating from rivals such as Brazil, Thailand and Malaysia, the countries that have not signed an FTA with the UK. Chart: Phi Nhat Shipments of the group of processing and manufacturing industries to the UK achieved an impressive growth in January such as phones and components (up 371.6% over the same period last year), followed by …

[Read more...] about Bilateral trade between UK and Vietnam surges thanks to UKVFTA

The Hanoitimes - The trade deal will open a new chapter in the Vietnam – UK relations, UK International Trade Secretary Liz Truss has said. Once coming into force, the UK – Vietnam Free Trade Agreement (UKVFTA) would serve as a major boost for a number of Vietnam’s export staples, including seafood, rice, garment, vegetables, among others, suggested the Ministry of Industry and Trade (MoIT) in a report. Prime Minister Nguyen Xuan Phuc and UK International Trade Secretary Liz Truss in a meeting yesterday. Photo: Quang Hieu. In 2019, Vietnam exported seafood worth US$298.2 million to the UK, or 6.7% of the latter’s total fishery imports. With the UKVFTA in place import tariffs for fresh or frozen shrimp would immediately go down to 0%. A zero-tariff rate is set to continue boosting Vietnam’s exports of shrimp and catfish to the UK market, which also makes the sector more attractive in the eyes of investors looking to take advantage of the trade deal. A study from the Ministry of Planning and Investment (MPI) predicted export turnover of Vietnam’s garment products to the EU market would expand by 67% by 2025 with the EU – Vietnam Free Trade Agreement (EVFTA). A similar effect is expected from the UKVFTA, stated the MoIT. At present, Vietnam’s textile exports to the UK only accounts for 2.77% of total import turnover of the latter for garment products, indicating huge potential for Vietnamese textile companies to further penetrate the market. The MoIT also views the UK as a potential rice buyer for Vietnam. In 2019, the country’s rice exports to the UK surged by 376% against that of in the previous year. Needless to say, the UKVFTA is set to put Vietnam in a favorable position compared to other rice exporters that do not possess a similar deal with the UK, including Thailand, China or India. Vietnam remained 6 th largest exporter of wooden products to the UK in 2019 with turnover of US$432.8 million, accounting for 3.6% of the …

[Read more...] about UKVFTA to boost export of Vietnam key items