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Vietnam's rice export turnover up 10 percent in 2020 - Illustrative image
(Photo: VNA)
The rice sector is expected to again post high growth this year, when
new-generation free trade agreements (FTAs) Vietnam has signed with foreign
partners come into play.
Amid the difficulties posed by the ongoing COVID-19 pandemic, rice exporters
quickly made appropriate adjustments and actively sought new markets while fully
tapping into the advantages brought about by FTAs.
Vice Chairman of the VFA, Do Ha Nam, said 2020 was a successful year
for Vietnam’s rice exports, which he attributed to increasing demand in many
countries and the improved competitiveness of Vietnamese rice around the world.
The EU-Vietnam FTA (EVFTA) has created a major opportunity for Vietnamese rice
to enter European markets and then make inroads into other choosy markets, Nam
said.
Experts said that if Vietnam wants to maintain rice export growth in 2021 it
needs to focus on building a complete rice value chain and controlling quality
in production, processing, and distribution.
The VFA predicted that rice exports will continue to grow this year because
export markets, such as the Philippines and Africa, are continuing to sign
contracts.
Within the framework of the Vietnam-Eurasian Economic Union (EAEU) FTA, EAEU
member states have pledged to give Vietnam a tariff quota of 10,000 tonnes of
rice for this year.
Vietnam’s rice exports to the UK will also enjoy zero percent tariffs without
quotas under the recently-signed UK-Vietnam FTA.
To fully tap into the advantages available under FTAs, rice export giants such
as the Intimex Corporation JSC, the Loc Troi Group, the VRICE Co., and the Trung
An Hi-Tech Agriculture JSC are planning to seek additional importers in markets
where Vietnam has signed FTAs, especially in the UK.
The Ministry of Industry and Trade will continue to support exporters via
providing timely information on market demand and strengthening trade promotion
efforts.
Source: VNA
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