First batch of Vietnamese rice exported to UK under UKVFTA

The first 60 tonnes of jasmin rice shipped to the UK under the UK-Vietnam Free Trade Agreement (UKVFTA) hit the shelves in London on January 26.

First batch of Vietnamese rice exported to UK under UKVFTA hinh anh 1

The first batch of jasmin rice is shipped to the UK under the UKVFTA. 

The top-quality fragrant rice was imported by the Long Dan Limited Company in the UK from the Vietnam National Seed Group (Vinaseed), and the rice is now sold at 15.5 GBP (21.28 USD) per kilogramme at the firm's supermarket chain.

Since Vietnamese high-quality rice enjoys zero tariff in the UK market under the trade pact, which took effect on December 31, 2021, it will gain competitive edge over rivals, including those from Thailand.

According to the Vietnamese trade counsellor in the UK Nguyen Canh Cuong, rice shipments to the European country this year will sharply rise against 2020.

 

He said more UK firms will purchase Vietnamese rice under the UKVFTA, relishing an exciting prospect that Vietnamese rice will expand its market share in the UK this year.

In 2019, the UK, the world’s 9th largest rice importer, splashed out 531 million USD buying 671,000 tonnes of Vietnamese rice. However, Vietnamese rice only accounted for 0.24 percent of the UK’s total rice import. Top rice exporters to the UK included India (22 percent of market share), Pakistan (18 percent), Spain (11 percent), Italy (10.9 percent), and Thailand (9.2 percent)./. VNA

UKVFTA creates more room for bilateral trade links

UKVFTA creates more room for bilateral trade links

The UK-Vietnam Free Trade Agreement (UKVFTA) will open the door wider for bilateral economic and trade ties and help form a solid foundation for their strategic partnership to reach a new height.

UKVFTA ushers in a bright future for UK – VN ties, ensures smooth post-Brexit trade

UKVFTA ushers in a bright future for UK – VN ties, ensures smooth post-Brexit trade

The UK – Viet Nam Free Trade Agreement (UKVFTA) was officially signed in London on December 29.

 
 

Other News

.
Pandemic reveals enterprises’ view of responsibility
Pandemic reveals enterprises’ view of responsibility
BUSINESSicon  11/02/2021 

The unprecedented challenges arising from the COVID-19 pandemic have highlighted more than ever the importance of responsible crisis management and sustainable development at enterprises.

Bad debts of 20 banks up 4.5% in 2020
Bad debts of 20 banks up 4.5% in 2020
BUSINESSicon  11/02/2021 

The non-performing loans (NPLs) of 20 local banks at the end of 2020 rose by 4.5 per cent year-on-year to VND83.4 trillion (US$3.58 billion), according to the banks’ latest financial statements.

Stocks to ride on Vietnam economic recovery in 2021
Stocks to ride on Vietnam economic recovery in 2021
BUSINESSicon  10/02/2021 

Cement, petroleum and retail stocks are those that could see strong rises in 2021.

Organic Tet cakes become a hit
Organic Tet cakes become a hit
BUSINESSicon  09/02/2021 

Organic banh chung (square glutinous rice cake) sold in Ho Chi Minh City for the first time for Tet (Lunar New Year) has become very popular.

Vietnam rises two places in Bloomberg innovative economy index
Vietnam rises two places in Bloomberg innovative economy index
BUSINESSicon  10/02/2021 

Vietnam has moved up two places to 55th in the list of the world's 60 most innovative economies compiled by Bloomberg, but lags far behind Asian peers.

Novartis honored as pioneer in digital transformation in healthcare
Novartis honored as pioneer in digital transformation in healthcare
BUSINESSicon  09/02/2021 

Novartis is the sole pharmaceutical firm among a total of 34 units that were honored for their efforts and outstanding contributions to the Digital Transformation of the Healthcare Sector in 2020, at the National Digital Transformation Congress.

The poor, as well as businesses, fall into 'black credit' trap
The poor, as well as businesses, fall into 'black credit' trap
FEATUREicon  09/02/2021 

The poor, who lack financial information and knowledge, are often hurt by black credit. But many businesspeople have also become victims.

E-commerce sites launch Tet online sale campaigns
E-commerce sites launch Tet online sale campaigns
BUSINESSicon  09/02/2021 

While general stores and supermarkets are about to close for Tet holiday, e-commerce websites have stated they are ready to take orders even on Tet days.

VIETNAM BUSINESS NEWS FEBRUARY 10
VIETNAM BUSINESS NEWS FEBRUARY 10
BUSINESSicon  10/02/2021 

HCM City targets domestic market for tourism recovery

Leading exports take advantage of new generation FTAs
Leading exports take advantage of new generation FTAs
BUSINESSicon  09/02/2021 

Truong Dinh Hoe, secretary general of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the EVFTA, which took effect last August, has opened up opportunities for shrimp exporters.

Enacting long-term reforms for strong economic recovery
Enacting long-term reforms for strong economic recovery
BUSINESSicon  09/02/2021 

As the global economy is still mostly struggling with the health crisis, the start in 2021 is overshadowed by the hurdles of the previous year. Nevertheless, Vietnam may regain traction in economic growth.

Keeping opportunities fresh in fruit and vegetable exports
Keeping opportunities fresh in fruit and vegetable exports
BUSINESSicon  08/02/2021 

The export of Vietnamese fruit and vegetables is worth hundreds of millions of US dollars each year but is so far impeded by the lack of appropriate preservation technology.

VIETNAM BUSINESS NEWS FEBRUARY 9
VIETNAM BUSINESS NEWS FEBRUARY 9
BUSINESSicon  09/02/2021 

Demand for top meat drives funding

VIETNAM BUSINESS NEWS FEBRUARY 8
VIETNAM BUSINESS NEWS FEBRUARY 8
BUSINESSicon  08/02/2021 

Flower growers look to online sales amid COVID-19 resurgence

Industrial park developers promote sustainability to attract “eagles”
Industrial park developers promote sustainability to attract “eagles”
BUSINESSicon  07/02/2021 

Vietnam has witnessed a growth in the arrival of global high-tech brands like Pegatron, Universal Scientific Industrial, Foxconn.

COVID-19 outbreak takes a toll on peach blossom sales
COVID-19 outbreak takes a toll on peach blossom sales
BUSINESSicon  08/02/2021 

As the Tet (Lunar New Year) holiday approaches people in Ha Noi flock to Quang An market in Tay Ho District to buy peach blossom trees.

Tax revenue from Google, Youtube, Facebook reaches $49.5 million in 2020
Tax revenue from Google, Youtube, Facebook reaches $49.5 million in 2020
BUSINESSicon  07/02/2021 

Tax revenues from online advertising business models of foreign organisations that do not have legal entities in Vietnam like Google, YouTube or Facebook hit VND1.14 trillion ($49.5 million) last year.

E-wallets offer online lucky money services amid virus outbreak
E-wallets offer online lucky money services amid virus outbreak
BUSINESSicon  06/02/2021 

E-wallets are gearing up to offer online lucky money services as the Tet (Lunar New Year) holiday approaches amid the third coronavirus outbreak in Vietnam.

VIETNAM BUSINESS NEWS FEBRUARY 7
VIETNAM BUSINESS NEWS FEBRUARY 7
BUSINESSicon  07/02/2021 

Vietnam rice prices hit 10-year high

Information security risks for SMEs in 2021
Information security risks for SMEs in 2021
BUSINESSicon  06/02/2021 

Not only facing difficulties caused by the Covid-19 pandemic, small and medium enterprises (SMEs) in Vietnam will also face many information safety and data security risks this year.

 
 
 
Leave your comment on an article

OR QUICK LOGIN