Brexit to cause exports to UK to face more barriers (28/6)
28/06/2016 - 15 Lượt xem
According to Hai, among Vietnamese commodities shipped to the UK, many have to be transited in the Netherlands, Belgium and Germany.
When Brexit
occurs, Vietnamese exports will be forced to redo all procedures such as
customs clearance and food hygiene and safety check-ups before reaching the
hands of UK customers.
Notably, if
the UK establishes a technical barrier with the EU, the export of Vietnamese
companies is more difficult.
The Ministry
of Industry and Trade recommended businesses to seek new export routes in order
to reduce costs and time.
Statistics
from the ministry showed that every year, the UK’s imports are valued at 700
billion GBP (924.6 billion USD). However, Vietnam’s export turnover to the
country accounts for 0.5 percent of the UK’s import turnover and 2.5 percent of
Vietnam’s export turnover.
Therefore, the
impact on Vietnam’s exports at a large scale will not happen, Hai said.
However,
Brexit will have a big effect on the country’s shrimp exports, the UK is the
largest importer of Vietnamese shrimp, and is one of the markets reporting an
increase in import turnover.
The official
also noted that if the UK leaves the European Commission, the signing of the
EU-Vietnam free trade agreement will also face difficulties.
He stressed
the need to speed up the signing process to avoid complications and shorten
time.
Source: VNA
