The Prime Minister has approved a plan for the implementation of the UK-Vietnam Free Trade Agreement (UKVFTA).

Vietnam is expected to make breakthroughs in exporting aquatic products in the coming time thanks to its good performance of biological safety, and benefits brought by free trade agreements (FTAs), according to the Ministry of Agriculture and Rural Development.

Free trade agreements are opening the doors for Vietnamese fruit and vegetable firms to increase export revenue this year, according to the Vietnam Fruit & Vegetables Association (VinaFruit).

VOV.VN - Vietnamese enterprises need to be proactive in terms of gaining knowledge of incentives, whilst simultaneously managing themselves in order to deal with gaps and weaknesses occurring in the implementation of free trade agreements (FTAs), according to economic experts.

VOV.VN - Vietnam raked in approximately US$17.15 billion from agro-forestry-fishery exports over the past four months, representing a year on year increase of 24.2%, according to the latest updates provided by the Ministry of Agriculture and Rural Development (MARD).

VOV.VN - To penetrate deep into the United Kingdom, Vietnamese businesses have been advised to carefully explore its indigenous culture as well as payment methods and distribution channels.

The UK – Vietnam Free Trade Agreement (UKVFTA), which will take effect on May 1, is expected to open up opportunities for UK health care companies to navigate the Vietnamese market.

In order to take advantage of FTAs ​​and increase the Vietnamese rice export market share at more competitive prices, the Ministry of Industry and Trade will continue to coordinate with ministries, branches and the Vietnam Food Association to help businesses effectively implement the deals and make the most of markets such as the RoK and the EU.

Vietnam has been making good use of advantages of the international economic integration process, helping to increase the country’s exports by 22% year-on-year and imports by 26% in the first quarter of 2021, said Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade.

Vietnam will announce to the UK side its ratification of the UK-Vietnam Free Trade Agreement (UKVFTA) this month, so the deal can officially come into force from May 1.