The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will further boost trade and investment ties between Vietnam and the United Kingdom (UK), according to officials of the two countries.

The Vietnamese Business Association in the UK (VBUK) has announced plans to reshape the landscape of Vietnam-UK trade relations, focusing on driving business community forward, fostering its unity and strengthening connections with their Vietnamese partners both at home and abroad.

Vietnam earned US$6.4 billion from exports to the UK in the first 10 months of this year, marking a year-on-year rise of 22%, reported the General Department of Vietnam Customs.

The UK-Vietnam Free Trade Agreement (UKVFTA), signed into law three years ago, has clearly benefited trade cooperation between the two countries, particularly in the context of Vietnam’s exports to most other major markets declining due to geopolitical tensions and headwinds in the global economy, said experts at a conference in Hanoi on October 30.

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.

The trade relationship between Vietnam and the United Kingdom experienced significant growth in bilateral trade over the past year, according to data released by the UK government's Department for International Trade on October 19.

The northern province of Hoa Binh introduced its potential and strengths as well as investment opportunities to British investors at an investment, trade and tourism promotion conference in London on October 11.

The Vietnam Trade Office in the UK on September 13 organised a Vietnam-UK trade promotion workshop in London which saw the participation of more than 60 representatives of Vietnamese and international businesses.

There is plenty of room available for Vietnamese goods to enter the UK market, said Thai Tran, Managing Director of TT Meridian, an international logistics and trading company specialising in the UK and Vietnam markets and the first Vietnamese business in the UK to open an all-cargo air route between the nations via Turkmenistan.