Vietnamese firms capitalise on UKVFTA to promote exports to UK
Vietnamese enterprises should be well-prepared to enhance shipments to the UK, particularly after the UK-Vietnam Free Trade Agreement took effect on December 31, 2020, according to insiders.
Vietnamese enterprises should be well-prepared to enhance shipments to the UK. (Photo: VNA)
Hanoi (VNA) – Vietnamese enterprises should be well-prepared toenhance shipments to the UK, particularly after the UK-Vietnam Free TradeAgreement took effect on December 31, 2020, according to insiders.
Statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP)showed that Vietnam exported some 355 million USD worth of seafood to the UKmarket in 2020, particularly shipments of tra fish surging 15 times as comparedto 2019.
Chairman and General Director of Nha Trang Seaproduct Company Ngo Van Ich saidthat the UK’s withdrawal from the European Union (EU) did not impact Vietnameseexports, and this relished exciting prospects for shipments in 2021.
This is a wonderful opportunity for Vietnamese exporters since the UK’s importtariffs are the same as those of the EU while the country’s demand for seafoodimports is expected to be stable or even increase in the coming time, Ich said.
In a bid to tape advantages from the free trade deal to the fullest extent,VASEP Deputy General Secretary Nguyen Hai Nam suggested local firms need towork to gain competitive edge over their competitors, improve production andbusiness capacity, as well as apply science-technology to increase value oftheir products.
Besides, they should obey the rules of origin, enhance supervision over the useof antibiotic in processing, and ensure food safety to meet requirements of theimporters, he recommended./.
Vietnam and the UK concluded necessary procedures for the temporary application of the bilateral free trade agreement from 6am of January 1, 2021 (Vietnam time) following the signing of the deal on December 29, 2020.
The UK-Vietnam Free Trade Agreement (UKVFTA), which became effective on January 1, is expected to create a strong motivation pushing Vietnam forwards on the path of economic development and international integration.
The UK-Vietnam Free Trade Agreement (UKVFTA) will open up more opportunities to boost the export of Vietnam’s key agricultural products with the commitments to market opening the same as the EU-Vietnam FTA, Minister of Industry and Trade Tran Tuan Anh has said.
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Vietnamese enterprises should be well-prepared to enhance shipments to the UK. (Photo: VNA) 
