Opportunities from EVFTA, Vietnamese coffee can easily usurp the No. 1 in the world?

Published 2020년 7월 31일

Tridge summary

Vietnam, the world's second-largest coffee exporter, is set to boost its coffee exports to the EU, which is the largest coffee consumption market, following the implementation of the EU-Vietnam Free Trade Agreement (EVFTA) starting August 1. The agreement is expected to eliminate tariffs on Vietnamese coffee products, providing a significant opportunity for the Vietnamese coffee industry to increase its export value. However, to capitalize on these opportunities, the industry must focus on improving quality, food safety, and quarantine measures, and promoting public-private partnerships. Additionally, the agreement offers opportunities for agricultural exports, provided they meet the EU's high standards of purity or content value.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Vietnam is the 2nd largest exporter of coffee in the world. The EU is the largest coffee consumption market in the world, with imports from foreign countries about 10 billion USD / year. With the above advantages, many opinions question whether Vietnamese coffee can take advantage of opportunities from EVFTA to become a champion in export? In fact, Vietnam's coffee exports to the EU now account for over 8.5% of total EU imports and over 42% of Vietnam's coffee exports. When EVFTA comes into effect, the EU will eliminate the 7.5-9% tax rate immediately on green coffee (roasted, roasted) and 9-11.5% within 3 years for some coffee bean products. Coffee includes instant coffee and essences containing coffee. To take advantage of opportunities, Vietnam's coffee industry needs to focus on implementing many solutions With the above advantages, but according to Mr. Tran Cong Thang, Director of the Institute of Policy and Strategy for Rural Agriculture Development (Ministry of Agriculture ...

Source: Petro Times