The UK-Vietnam Free Trade Agreement (UKVFTA) has brought about positive results though it took effect recently, said head of the Ministry of Industry and Trade (MoIT)’s Multilateral Trade Policy Department Luong Hoang Thai at a seminar held in Hanoi on January 18.
Hanoi (VNA) – The UK-Vietnam Free Trade Agreement(UKVFTA) has brought about positive results though it took effect recently,said head of the Ministry of Industry and Trade (MoIT)’s Multilateral TradePolicy Department Luong Hoang Thai at a seminar held in Hanoi on January 18.
The seminar, co-hosted by the MoIT and the British Embassy inHanoi, focused its discussion on e-commerce in the UKFTA – key to Vietnam – UK growth.
Thai said room for Vietnam – UK cooperation remains huge asVietnam’s shipments to the UK only accounted for 0.88 percent of its totalimports while the UK’s exports to Vietnam remain modest.
British Consul General in Ho Chi Minh City and Director for UKTrade in Vietnam Oliver Todd said the pandemic pushed Vietnam’s e-commercemarket to a growth of 53 percent compared to 2020, making🃏 it an optimal choicefor businesses and people.
Illustrative image (Source: VNA)
Nguyen Thi Minh Thuy, Director of the Vietnam Trade PromotionAgency’s InformationTechnology and Application Centre, said the UK isalways among the top buyers on Alibaba.com, except farm produce.
Meanwhile, the Vietnamesefirms successfully built the trademark “Made in Vietnam” on the world map onAmazon.com, leaving strong impression on the Vietnamese economy ininternational market and in the UK in particular, she added.
Head o🉐f the International Cooperation Office under the MoIT’sE-Commerce and Digital Economy Agency Bui Thanh Hang suggested the Statecontinue refining legal framework and partner with the UK to offer capacityimprovement programmes for businesses./.
The General Department of Vietnam Customs has issued documents to guide the customs departments of provinces and cities to effectively enforce the UK-Vietnam Free Trade Agreement (UKVFTA) and related documents.
Prime Minister Pham Minh Chinh affirmed that the UK is among leading economic partners of Vietnam in Europe while receiving British Ambassador to Vietnam Gareth Ward in Hanoi on September 30.
The Vietnamese Ministry of Industry and Trade’s implementation of free trade agreements (FTAs) has produced positive results in the past two years, an official has said.
Despite pandemic-caused difficulties, Vietnam still posted a trade surplus of 4 billion USD, an impressive achievement partly attributed to free trade agreements (FTAs), especially the new-generation ones.
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Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Photo: VNA) 
Illustrative image (Source: VNA) 
