Vietnam-UK trade expands 29.2% in Jan-Feb
Two-way trade between Vietnam and the UK in the first two months of the year surged 29.2%year-on-year, hitting US$1.1 billion, according to the Ministry of Industry and Trade.
The ministry attributed the impressive result to the positive effect of the UK-Vietnam Free Trade Agreement (UKVFTA) which took effect on January 1.
The agreement has greatly facilitated trade activities between the two countries, it said.
Vietnam’s export turnover to the European nation totalled US$998 million in the reviewed period, expanding 33% from the same period last year.
This is an impressive growth in the context that the COVID-19 pandemic still poses severe impacts on trade activities.
Rice, textiles, footwear, wood and vegetables are products greatly benefiting from the UKVFTA, the ministry said.
