Business

Vietnam-UK bilateral trade sky-rockets

Two-way trade between Vietnam and the UK in recent years has experienced robust growth at over 20 percent per annum, despite negative impacts of the global economic crisis, according to the Vietnamese embassy in the UK and North Ireland.
Two-way trade betweenVietnam and the UK in recent years has experienced robust growth atover 20 percent per annum, despite negative impacts of the globaleconomic crisis, according to the Vietnamese embassy in the UK andNorth Ireland.

In the first 10 months of 2012,bilateral trade enjoyed a year-on-year increase of 36 percent to standat 3.57 billion USD. Of which, Vietnam’s export revenue ascended to 3.19billion USD, up 44 percent year on year, while imports climbed 91percent to 377.5 million USD.

The strong growth inthe reviewed period was thanks to a number of reciprocal conditions thatsupport the two economies’ cooperation, said the embassy’s commercialcounsellor Nguyen Thi Hong Thuy.

In order to keepthe momentum in 2013, she suggested that Vietnamese businesses shouldintensify trade promotions in the so called fog island.

Bilateral trade for 2012 is estimated to reach over 4 billion USD,already exceeding the set target of 4 billion USD for 2013.

In 2011, the UK was the second largest European trade partner ofVietnam (after Germany) with more than 3 billion USD worth of goodsexchanged between the two countries.-VNA
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