Vietnam has advantages in the UK market and its exporting companies benefit from that, said Nguyen Canh Cuong, trade adviser of the Vietnam Trade Office in the UK, in an interview with the Vietnam News Agency. .
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|In the first nine months of 2022, bilateral trade reached over USD 5.22 billion.|
Vietnam is one of the few countries that has signed the free trade agreement with Britain, he added. According to Nguyên Canh Cuong, Vietnam’s national brand value has increased significantly in recent years thanks to outstanding achievements. He argued that these national brand values create very positive effects in the psychology of British businesses and consumers.
In the first nine months of 2022, bilateral trade reached more than US$5.22 billion, of which Vietnam had achieved a trade surplus of US$4.07 billion (with an export value of nearly US$4.65 billion), an increase of 8 .1% compared to the same period last year. year. Nguyên Canh Cuong estimated that exports to the UK will continue to increase in the final months of the year, especially rice, including ST25 rice.
Since the beginning of 2022, the Vietnam Trade Office in the UK has organized several consulting and business-related sessions to provide market intelligence and advise Vietnamese companies on business practices in the UK. The consultation sessions focused on furniture, agriculture, clothing and certain educational products.
The Vietnam Trade Bureau also organized a series of trade promotion events, such as supporting Vietnamese companies to participate in the global e-commerce trade fair White Label Expo in London in February, the furniture fair in Birmingham in April, at the Vietnamese food presentation in London in June and in Nottingham in July…
Nguyên Canh Cuong announced that next year the trade bureau will continue to promote Vietnam’s trade and export activities to the UK, including participation in the largest furniture fair, the January Furniture Show, in Birmingham in early 2023.
He also said that the Vietnam-UK Free Trade Agreement remains a factor that creates competitive advantages for many Vietnamese products in the UK market. It is a large market with stable and sustainable purchasing power. British companies are reliable partners.