After the UK-Vietnam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic.
The UK-Vietnam Free Trade Agreement (UKVFTA), which came into effective from January 1, will open the door larger for Vietnam’s key agricultural exports to the UK, Minister of Industry and Trade Tran Tuan Anh has said.
Vietnam is set to be a prime destination for travel after COVID-19, with its expert handling of the pandemic, noted an article published by UK news site yourlocalguardian.co.uk.
Vietnam supports the UK in strengthening economic and trade relations with member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and is willing to share information and experience in joining the pact with the UK, Foreign Ministry spokesperson Le Thi Thu Hang has said.
Deputy Minister of Industry and Trade Dang Hoang An recently had a working session with UK Ambassador to Vietnam Gareth Ward to discuss bilateral cooperation in trade and energy.
The UK made a formal request on February 1 to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the first accession application by a member outside the 11 participating Pacific countries since the trade deal came into force in 2018.
Vietnam and the United Kingdom have completed all procedures and began the temporary enforcement of the bilateral free trade agreement (FTA) from 6am on January 1, 2021 (Vietnam time).
The UK-Vietnam Free Trade Agreement (UKVFTA), which will come into force at 23:00 on December 31, 2020, will open the door wider for bilateral economic and trade ties and help form a solid foundation for their strategic partnership to reach a new height.
Although the UK-Vietnam Free Trade Agreement (UKVFTA) inherits basic contents from the EU-Vietnam FTA (EVFTA), there remain differences between the two deals, said Vietnamese Trade Counsellor in the UK Nguyen Canh Cuong.
The UK-Vietnam Free Trade Agreement (UKVFTA) is expected to intensify economic cohesion and reciprocation between the two countries, thus deepening and elevating the bilateral strategic partnership, said a diplomat.
“I am hugely excited that the two ambassadors are finalising this trade agreement by signing it today (December 29), cementing our historic ties and ushering in a bright future. I can’t wait to visit again”, Heather Wheeler, MP and Prime Minister’s Trade Envoy for Cambodia, Laos, Vietnam said in an interview with Vietnam News Agency correspondents.
The UK-Vietnam Free Trade Agreement (UKVFTA), expected to come into force in the beginning of 2021, is promising several export opportunities to the European market for Vietnamese garment-textile and footwear enterprises.
More than 360 Vietnamese citizens were brought home safely on a flight arranged by Vietnamese and UK agencies together with the national flag carrier Vietnam Airlines on December 21-22.
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