Vietnam's coffee exports to the UK benefit from UKVFTA
After 6 years since the agreement's implementation, import duties will be eliminated for 99.2% of the tariff lines, or 99.7% of Vietnam's export earnings. The agency advised businesses to act quickly to take advantage of opportunities created by the agreement, which went into effect on May 1, 2021.
In the first eight months of 2022, Vietnam exports 34,680 tonnes of coffee worth 70.68 million USD to the United Kingdom.
To increase the presence of Vietnamese goods in the United Kingdom, according to experts, businesses must align production with British quality standards, master export procedures, and continue enhancing product quality by modernizing preservation and transportation technology, particularly for agricultural products.
Companies were also advised to focus more on registering and protecting their brands in the United Kingdom while actively seeking partnerships with the market's largest distributors. Vietnam exported 34,680 tonnes of coffee worth 70.68 million USD to the United Kingdom during the first eight months of 2022, an increase of 57.9% in volume and 84.2% in value compared to the same period the previous year. According to the Ministry of Industry and Trade, export prices increased by 16.6% to 2,038 US dollars per tonne. In the first half of 2022, the proportion of Vietnamese coffee in the United Kingdom's total imports increased to 29.92% from 16.33% in the same period of the previous year.
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