Deputy Minister of Foreign Affairs To Anh Dung (R) and UK Ambassador to Vietnam Gareth Ward (Photo: VNA) The UKVFTA was officially signed in London,the UK on December 29, 2020 and was applied temporarily from January 1, 2021.
This is the 3rd "new generation"FTA that Vietnam has signed with its foreign partners, helping maintain and furtherstrengthen the economic - trade cooperation with the UK, which is one of themajor and important partners of Vietnam.
Speakingat the ceremony, Deputy FM Dung and UK Ambassador to Vietnam Gareth Wardacknowledged and appreciated the efforts of the two nations' agencies, ministries and sectors in accelerating the early completion of relevant proceduresfor ratification of the trade pact.
This agreement will help Vietnam maintain preferential trade conditions andeconomic benefits through market-opening commitments already included in the EU-Vietnam FTA (EVFTA).
Accordingly, the UKVFTA makes it easier for the two countries to furtherpromote their cooperation in financial - banking services and e-commerce. Inaddition, it also promotes the protection of intellectual property, geographicalindication, clean growth, and sustainable development.
InJanuary 2021, the export turnover between Vietnam and the UK totalled over 657.3million USD, up 78.57 percent year-on-year.
Accordingto the agreement’s Article 9, the deal shall enter into force on the firstday of the second month after the date of receipt of the Parties' final notice onthe completion of internal legal procedures.
With the exchangeof official notes confirming the completion of internal procedures of both sides, the UKVFTA will officially take effectfrom May 1, 2021./.
This agreement will help Vietnam maintain preferential trade conditions andeconomic benefits through market-opening commitments already included in the EU-Vietnam FTA (EVFTA).
Accordingly, the UKVFTA makes it easier for the two countries to furtherpromote their cooperation in financial - banking services and e-commerce. Inaddition, it also promotes the protection of intellectual property, geographicalindication, clean growth, and sustainable development.
InJanuary 2021, the export turnover between Vietnam and the UK totalled over 657.3million USD, up 78.57 percent year-on-year.
Accordingto the agreement’s Article 9, the deal shall enter into force on the firstday of the second month after the date of receipt of the Parties' final notice onthe completion of internal legal procedures.
With the exchangeof official notes confirming the completion of internal procedures of both sides, the UKVFTA will officially take effectfrom May 1, 2021./.
VNA
