The conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA) on December 11 holds a practical meaning to both nations as the pact is expected to help the two countries boost their post-pandemic recovery.
Minister of Industry and Trade Tran Tuan Anh and UK Secretary of State for International Trade Liz Truss sign the agreed minutes on the conclusion of negotiations over the UK-Vietnam Free Trade Agreement on December 11. (Photo: VNA)
Hanoi (VNA)– The conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA) on December 11 holds a practicalmeaning to both nations as the pact is expected to help the two countries boost their post-pandemic recovery.
According to an article by Pinsent Masons, a UK-based internationalprofessional services business with law at its core, Vietnam and UK companieswill be benefit from reduced tariffs on imports and exports. Currently 65 percentof tariffs are removed tariff on UK-Vietnam trade, but this will increase to 99percent of tariffs over time.
The article said the agreement is anticipated to deliverannual savings to Vietnam of 114 million pounds on exports to UK and 36 millionpounds on UK exports to Vietnam.
Trade expert Totis Kotsonis of the firm said: “the UK seesits bilateral agreement with Asian countries as merely the first stepping stonetowards much greater UK involvement in Asia, ultimately joining theTrans-Pacific trade agreement (CPTTP) and becoming an ASEAN Dialogue Partner”.
During the 2010 – 2019 period, trade between Vietnam and theUK tripled, reaching about 7.6 billion USD. The saved tariffs will help Vietnamescape the consequences of a decline in global demand that is hindering theexport of manufactured goods. The COVID-19 pandemic has led to westerncountries’ cutting of orders for traditional Vietnamese exports, such asapparel, footwear, electronic devices and automotive equipment.
Associate Professor Wu Ming Jiang from the NationalUniversity of Singapore’s Lee Kuan Yew School of Public Policy said Vietnamwill have more access to the UK’s special strengths in management consultationservices and in research and development./.
An agreement on concluding negotiations of the Vietnam-UK Free Trade Agreement (UKVFTA) will be signed on December 11, according to the Ministry of Industry and Trade (MoIT).
Minister of Industry and Trade Tran Tuan Anh and UK Secretary of State for International Trade Liz Truss signed the agreed minutes on the conclusion of negotiations over the UK-Vietnam Free Trade Agreement (UKVFTA).
Vietnam is a strategic partner of the UK, affirmed UK Secretary of State for International Trade Elizabeth Truss at a meeting with Chairman of the National Assembly’s Committee for Economic Affairs Vu Hong Thanh in Hanoi on December 11.
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.
The UK-Vietnam Free Trade Agreement (UKVFTA) is an important factor ensuring the continuity of the dynamic and expanding bilateral trade relations between the two countries, affirmed UK Secretary of State for International Trade Elizabeth Truss.
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The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
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The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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.
Minister of Industry and Trade Tran Tuan Anh and UK Secretary of State for International Trade Liz Truss sign the agreed minutes on the conclusion of negotiations over the UK-Vietnam Free Trade Agreement on December 11. (Photo: VNA) 
