The UK’s participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to provide more opportunities for Vietnamese firms to expand export markets and create momentum for economic development, according to experts.

VOV.VN - The benefits of free trade agreements (FTAs) have exerted a positive impact on the socio-economic development of localities across the country, especially in terms of accelerating trade growth and market expansion, according to insiders.

VOV.VN - Vietnam recorded an estimated export surplus of US$125 billion with Europe and the Americas despite a 9.5% fall in trade exchanges with the two markets this year, according to the Ministry of Industry and Trade.

Vietnamese firms should foster their imports of raw materials from the United Kingdom (UK) to enjoy preferential tariffs brought by the UK-Vietnam Free Trade Agreement (UKVFTA), trade experts have suggested.

Several northern localities have been fostering exports of the "One Commune One Product" (OCOP) products to the United Kingdom to enjoy import tax reductions under the effective UK-Vietnam Free Trade Agreement (UKVFTA).

Vietnam has been accelerating trade promotion in the United Kingdom – the world's fifth-largest economy with US$700 billion worth of import demand per year in the context of Vietnamese goods having more competitors.

Quality and brand are recognised as decisive factors for Vietnam’s fruits and vegetables to tap the opportunities from the UK – Vietnam Free Trade Agreement (UKVFTA) and expand export to this highly demanding market, said Dang Phuc Nguyen, General Secretary of Vietnam Vegetable and Fruit Association (Vinafruit).

The export of Vietnamese goods to the United Kingdom (UK) is currently facing several challenges, attributed to both unfavourable international conditions and shifts in the UK’s trade and economic policies.

The Ho Chi Minh City People’s Committee and the Vietnamese Embassy in the UK on October 24 held a conference on investment-trade promotion between the UK and the city in London.

A trade and investment promotion forum was held in London on October 16 by the Vietnam Chamber of Commerce and Industry (VCCI) and the West London Chamber of Commerce (WLCC), bringing together businesses from the two countries.