HCM City (VNS/VNA) - The UK’s exports of goods to Vietnam grew by 9.9% last year, and the country is aiming to maintain this momentum in 2025.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is creating new opportunities for Vietnamese importers, retailers, and distributors to source more products from the UK, according to David Johnstone, Head of Free Trade Agreement Utilisation at the UK Government.
At a business briefing organised by the British consulate general in Ho Chi Minh City in collaboration with Redfern Digital and The Sentry on February 25, 50 local businesses and industry experts discussed how Vietnamese importers can leverage the benefits of the CPTPP and the UK - Vietnam Free Trade Agreement to bring a wide range of British products to the market.
“The UK's accession to the CPTPP in December 2024 is expected to open up even more exciting opportunities for local businesses to bring the UK's diverse portfolio of consumer products to Vietnamese consumers,” Johnstone said.
“New tariff reductions in food and drink, cosmetics, and consumer goods, along with improved customs guarantees, will make it easier and more cost-effective to buy from the UK.”
Under the CPTPP and UKVFTA agreements, up to 99% of UK exports to Vietnam are now subject to zero tariffs, making British goods in sectors such as fast-moving consumer goods, consumer retail, food and drink, and health and wellbeing more accessible and competitive, offering local consumers a wider variety of high-quality options.
Beyond tariff reductions, these agreements also provide significant non-tariff benefits.
For example, the CPTPP ensures faster clearance times, with standard trade releases occurring within 48 hours of arrival and express shipments cleared within six hours.
The CPTPP also streamlines the registration process for UK cosmetic products, removing the need for a Certificate of Free Sale.
UK exporters can now self-certify the origin of goods, eliminating the requirement for third-party certification.
Once fully implemented, these measures will reduce costs and administrative burdens, which is welcomed by the business community.
The UK is home to several globally recognised consumer and retail brands. From tea to chocolate, seafood to meat, vitamins to nutrition brands, and household products to fragrances and fashion, consumers in Vietnam are already enjoying a wide range of UK products, which are prominently featured in both brick-and-mortar stores and rapidly expanding e-commerce platforms.
“Popular British brands such as Jo Malone, Lush, The Body Shop, Mothercare, and Unilever are already making their mark in Vietnam,” Alexandra Smith, the British consul in HCM City, said.
“Through the UK Government’s trade policy and export support efforts, we aim to further open up the market and assist more British retail brands, particularly small and medium-sized businesses, in tapping into this growing market.”
The 2019 UK-Vietnam Free Trade Agreement has further boosted bilateral trade, particularly in the agricultural and food and drink sectors.
According to the 2024 “Connecting the UK and Vietnam in Agriculture, Food and Drink” report by Edelman Public & Government Affairs commissioned by the British embassy in Hanoi, food and drink exports to Vietnam surged by 97% between 2020 and 2023 to top 154 million USD.
Earlier, the embassy and the Vietnam’s Ministry of Industry and Trade jointly hosted conferences in Hanoi and HCM City on bilateral trade opportunities arising from the UK's membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
The conferences covered topics such as tariff reductions, diversifying supply chains through rules of origin and cumulation provisions and market access for key industries like agriculture, pharmaceuticals, textiles, energy, and infrastructure.
The event also offered a platform for UK and Vietnamese businesses to discuss the use of the CPTPP and bilateral trade.
A networking reception provided space for interactive discussions and connections between UK and Vietnamese government officials, business associations and enterprises./.
VNA
