May 2, 2024 | 00:28 GMT +7
Hotline: 0913.378.918
May 2, 2024 | 00:28 GMT +7
Hotline: 0913.378.918
Vietnam's tea imports into the UK increased sharply in the first 2 months of this year. Photo: TL.
According to the International Trade Centre (ITC), in the first two months of 2022, The UK’s tea import reached $64.1 million, up 42% over the same period in 2021. The UK sharply increased the import of Vietnamese tea with a value of $404,000, up 156% over the same period in 2021.
Compared with other suppliers without a Free Trade Agreement (FTA) with the UK such as China, Thailand, Malaysia, Indonesia, ...Vietnamese tea products have a more competitive advantage in this market thanks to preferential treatment from the UK-Vietnam Free Trade Agreement (UKVFTA).
As a consequence, the Agency of Foreign Trade (Ministry of Industry and Trade), said that, if taking advantage of UKVFTA well, Vietnam's tea products will have the opportunity to increase market share in the UK market.
The UK is one of the five largest import markets of tea in the world. In 2021, the UK's tea import will reach $307.7 million, down 12.2% compared to 2020. Of which, tea imported from Vietnam reached $1.8 million.
Translated by Hoang Duy
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