The UK-Vietnam Free Trade Agreement (UKVFTA), signed into law three years ago, has clearly benefited trade cooperation between the two countries, particularly in the context of Vietnam’s exports to most other major markets declining due to geopolitical tensions and headwinds in the global economy, said experts at a conference in Hanoi on October 30.
Vietnam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK following the UK-Vietnam Free Trade Agreement (UKVFTA) they signed, speakers said at a conference on June 23.
A conference will be co-held on June 23 by the Ministry of Industry and Trade (MoIT), the British Embassy in Vietnam and the British Chamber of Commerce Vietnam (BritCham) to support Vietnamese enterprises to join the supply chain of British enterprises.
After being heavily impacted by COVID-19 for two years, trade between Vietnam and the United Kingdom (UK) has recovered, reaching nearly 6.6 billion USD at the end of 2021, up 17 percent from the previous year, according to the Ministry of Industry and Trade.
Two-way trade between Vietnam and the UK in the first two months of the year surged 29.2 percent year-on-year, hitting 1.1 billion USD, according to the Ministry of Industry and Trade.
The conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA) demonstrates the importance of Vietnam as a market and its heightened position in the eyes of the UK, Vietnamese Ambassador to the UK Tran Ngoc An told the Vietnam News Agency after the finalisation of the bilateral trade deal in Hanoi on December 11.
Trade and investment relations between Vietnam and the UK are to benefit from the EU-Vietnam Free Trade Agreement (EVFTA), according to Trade Counsellor at the Vietnamese Embassy in the UK Nguyen Canh Cuong.
The administration of Ho Chi Minh City and the British Business Group Vietnam (BBGV) held a conference on October 14 to seek ways for removing difficulties facing British investors.
The Vietnam-UK Joint Economic and Trade Committee (JETCO) has held the 10th meeting in Manchester, where the two sides affirmed their commitment to efforts to promote bilateral trade.
