Free trade is key to success for agri-businesses

How do you set your targets for profit?

Most will aim to maximise and hope they can live comfortably with enough to invest for the future.

Some agri-businesses in the wholesale end seem to never get enough, but how would you feel if you could not afford to send your children to school?

Here in Vietnam, our beautiful, clever and engaging guide round the villages was never able to go to school, can’t read or write, but speaks good English, smiles constantly, and probably started off selling trinkets to tourists like me.

We are told not to buy, as this will only encourage the parents to keep them off school. But it is truly heartbreaking when a stunningly beautiful 10-year-old comes alongside selling 10 lovely postcards: “Only one dollah sir, please sir, only one dollah”.

The only reason this is relevant to us is that Vietnam has signed a free trade deal with the EU and Cambodia is asking Vietnam to invest in processing facilities to help increase market returns for both.

This deal will in no way hurt us, but you can well imagine these deals are being conducted politely, with much bowing and dignity, with the potential to really help a developing nation where 45% of the population is working in agriculture, and working really hard.

Compare and contrast with the approach of Trump, claiming the

EU has “robbed them of billions over the last few years by protectionism”. Certainly not agriculture, if one takes a quick look at soya and maize gluten imports for a start. But he will bully and cause absolute havoc in the markets. as he did with the Chinese soya trade before backtracking and claiming “a fantastic deal, the best ever”.

Two points to be taken onboard. First, we must at all times stand up to bullies and defend our legitimate standards.

We cannot allow him to blackmail us by imposing tariffs where it will hurt most without any justification – such as Scotch whisky.

We can complain about margins where necessary, but I could afford to help two sons through university – and for that I should thank my lucky stars.

Vietnam has signed a free trade deal with the EU and Cambodia wants it to invest in processing facilities.