A bilateral trade agreement between Vinacacao and Libeert

DNHN - A signing ceremony for bilateral commercial cooperation was held on December 14 afternoon between Libeert Company and Vietnam Cocoa Joint Stock Company (Vinacacao).

For the first time, two businesses from different nations and continents that produce finished goods in the same sector of the chocolate industry are working together to trade markets. In addition to providing chances for the two companies to extend their markets and for businesses that produce completed goods to collaborate in new ways by buying to sell or selling to buy, the event also presents prospects for the Vietnamese cocoa industry and cocoa growers. Additionally, it creates the possibility of exporting completed chocolate goods and cocoa under Vietnamese brands to Europe, which is currently the world's largest market for chocolate production and consumption.

Statistics from the "Towards building a unique Vietnamese cocoa brand in the world market" Vietnam Cocoa Conference (November 18, 2020, organised by the Ministry of Agriculture and Rural Development and the Embassy of the Kingdom of Belgium in Vietnam) show that the global chocolate industry is consuming over 4 million tonnes of cocoa beans, and that the average annual growth in chocolate consumption is 5.7%.

Vietnamese cacao gained notoriety abroad after taking home the 2013 International Cocoa Award. In 2015, the International Cocoa Organisation categorised Vietnamese cacao as "Fine or Flavoured Cocoa" because of its low acidity and pleasant fruit flavours. This feature has the potential to make Vietnamese cocoa stand out from the competition and carve out a special market for itself. It also presents Vietnam with a chance to grow its cocoa business, which is the primary source of cocoa beans used to make chocolate.

The Vietnam Coffee and Cocoa Association estimates that the country's annual chocolate consumption demand is currently over 5,000 tonnes. The range of well-known items and brands that are available in Vietnam is increasing. Vinacacao is among the several domestic brands that are experiencing a significant upsurge.

Vinacacao is a prominent Vietnamese manufacturer, supplier, and distributor of products based on cocoa, which was founded in 2007. Vinacacao diversifies its raw material sources through cooperative programmes with overseas partners and cocoa farmers, in addition to traditional exports and sales to foreign importers through co-branding and exclusive branding.

To maximise the natural nutrients found in cocoa, Vinacacao uses cutting-edge German technology in its production process. Over the years, the company has not only improved its staple goods, cocoa and chocolate, but it has also consistently explored and introduced a wide range of products that offer consumers alternative foods and health benefits.

Vinacacao is pleased to have the top spot in the market for end-line finished goods that reach consumers as of right now. aiming for a bigger goal, which is to support the government's cocoa initiatives, prioritise family and child health, represent the interests of Vietnamese cocoa growers, and significantly contribute to the development of the country's cocoa sector.

The signing of a bilateral cooperation agreement between Vinacacao, a Vietnamese company that has been producing, supplying, and distributing cocoa products for almost 20 years, and Libeert, a Belgian brand with a century-long history, opened up new avenues for cooperation and a means for Vietnamese companies that manufacture finished goods to enter international markets through product exchange (as opposed to using foreign currency, or USD), but rather the subtraction method).

This occasion signifies a unique collaboration between two Vietnamese and Belgian businesses that manufacture completed goods in the same sector. It creates new export routes for Libeert and Vinacacao from Belgium to Vietnam and from Vietnam to Belgium. This marks a significant milestone in Vinacacao's 20-year history of formation, expansion, and advancement.

Ngoc Thu