Despite many difficulties in international trade in 2021, Vietnamese Agricultural market still has achieved many accomplishments. Bilateral trade between Vietnam and India exceeded 13 billion USD for the first time. At the same time, thanks to UKVFTA, Vietnam’s exports to the UK increase. With positive growth in 2021, Japan and the UAE become potential markets for Vietnamese agricultural products. Taking advantage of those opportunities, Vietnam is making efforts to increase agricultural exports in 2022.
Bilateral trade between Vietnam and India exceeded 13 billion USD for the first time
According to data from the General Department of Vietnam Customs, bilateral trade between Vietnam and India in 2021 reached US$13.2 billion, up 36.5% from US$9.6 billion in 2020.
– In 2021, bilateral trade between Vietnam and India exceeded $13 billion for the first time, making India the 8th largest trading partner of Vietnam. India exported 6.95 billion USD (up 56% compared to 2020), Vietnam exported 6.25 billion USD (up 20% compared to 2020).
– High growth items include pepper (up 101%), coffee (up 90%), rubber products (up 88%). In addition, Vietnam has many agricultural products which are very popular in the Indian market such as dragon fruit, and processed products such as instant coffee, …
– The COVID-19 pandemic has hindered trade promotion activities by traditional methods, face-to-face meetings and exchanges. However, the Vietnam Trade Office in India has organized a lot of online trade promotion activities with diverse scales and fields, which has made a certain contribution to promoting trade between the two countries.
– Businesses should note, knowledge of Indian laws, commercial practices in India and Indian market information is required to do long-term business with this important trading partner, in order to bring Bilateral trade quickly surpassed the 15 billion mark and move towards more ambitious goals.
Vietnam’s exports to the UK increase thanks to UKVFTA
Import and export of goods between Vietnam and the UK has been growing positively under the impact of the UK-Vietnam Free Trade Agreement (UKVFTA).
– The UKVFTA Agreement has only been implemented for more than a year, but has brought about quite positive results. In 2021, bilateral trade will reach more than 6 billion USD. Import-export turnover of both sides increased by double digits. In which, Vietnam’s exports to the UK increased by 16.4%; In contrast, UK exports to Vietnam increased by 23.6%.
– Specifically, the total export turnover of Vietnam to the UK reached $5.24 billion, up 15.6% over the same period last year. Most of Vietnam’s exports to the UK have grown well. Leading the growth rate are the following commodities: iron and steel (1,183%); rubber (82.3%); agricultural products (70.8%); rattan, bamboo, sedge and carpet products (60.3%); pepper (48%)…
– In the context of the Covid-19 pandemic causing market demand to decrease and the container crisis lasting from the beginning of 2021, the export results of Vietnamese enterprises for the whole year of 2021 can be said to be a “miracle”. The UKVFTA agreement has made many products have superior competitive advantages in the UK market compared to similar products of China, Thailand, Malaysia,…
– In order to better take advantage of the opportunities brought by the UKVFTA Agreement, in the coming time, Vietnamese enterprises need to organize production according to British and EU standards, and at the same time actively build and develop customer relationships with large distribution corporations.
Japan, a potential market for Vietnamese agricultural products
Japan is a market with a large demand for importing and consuming foreign agricultural and aquatic products. Vietnam is considered as a country with strengths as well as good supply ability for the Japanese market.
– In the context of Vietnam’s import and export with the world being affected in general, the Japanese market is still a bright spot when it maintains its growth rate. In 2021, the total bilateral trade turnover between Vietnam and Japan reached 42.7 billion USD, up 7.8% compared to 2020. Vietnam’s exports to Japan reached 20.1 billion USD, up 4.4%.
– The export turnover of Vietnam’s agricultural and aquatic products to Japan in 2021 reached 1.8 billion USD, down slightly at 0.5% compared to 2020. However, many commodities recorded very good growth, such as coffee up 25.5%, vegetables and fruits up 20%, cashew nuts up 39%, pepper up 56%…
– Currently, the Vietnam Trade Office in Japan is focusing on promoting the connection of Vietnamese agricultural product exporters with large importers and distribution chains in Japan. Vietnamese products first need to ensure good quality, meet strict regulations on food hygiene and safety, and at the same time need to have diverse tastes to suit the Japanese.
Vietnamese agricultural products and food have great opportunities in UAE
As the regional trade and logistics center, the UAE is considered one of the world’s largest re-export markets for goods in general as well as agricultural products in particular.
– Dubai has a number of large wholesale farmers’ markets and spice markets. This is a potential market for agricultural products and food for Vietnam. Therefore, the Ministry of Industry and Trade said that promoting the export of Vietnamese agricultural products to the UAE market is one of the priorities in the coming time.
– To increase market share in the UAE market, businesses need to strengthen cooperation and attend major agricultural fairs in the UAE. At the same time, the Government also needs to strengthen the organization of forums to connect and support businesses.
– The diverse and quality products with strengths of Vietnam brought to the fair by suppliers include: rice, cashew nuts; coconut products: desiccated coconut, and coconut butter; spices include: pepper, cinnamon, anise; milk and dairy products;
By the end of 2021, Vietnam’s agricultural exports have achieved impressive achievements; increasing export output as well as expanding more potential markets. In the new year 2022, Vietnam will have new directions to continue improving its achievements in agriculture.
Vietnam increases exports of advantageous agricultural products in 2022
In 2022, the Ministry of Agriculture and Rural Development decided to focus on improving the quality; increasing competitiveness and market access for agricultural products; increasing the export of agricultural products with advantages and markets; and expanding the official export market of key products.
– In 2021, the export of agriculture, forestry and fishery products will reach a record high of 48.6 billion USD, up 14.9% compared to 2020. By 2022, the whole industry will strive to achieve a growth rate of 2.8% – 2.9%; production value growth rate will reach 2.9% – 3.0%; total export turnover will reach about 49 billion USD.
– Ministry determines to improve quality, increase competitiveness and market access for agricultural products; increase the export of agricultural products with advantages and markets; expand the official export market of key products.
– Currently, the Ministry of Agriculture and Rural Development is consulting with Vietnamese embassies and Trade Offices abroad to develop a sustainable agricultural product export scheme. It is necessary to create an area of qualified raw materials.
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