The UK-Vietnam Free Trade Agreement (UKVFTA) is expected to intensify economic cohesion and reciprocation between the two countries, thus deepening and elevating the bilateral strategic partnership, said a diplomat. ​

Although the UK-Vietnam Free Trade Agreement (UKVFTA) inherits basic contents from the EU-Vietnam FTA (EVFTA), there remain differences between the two deals, said Vietnamese Trade Counsellor in the UK Nguyen Canh Cuong.

“I am hugely excited that the two ambassadors are finalising this trade agreement by signing it today (December 29), cementing our historic ties and ushering in a bright future. I can’t wait to visit again”, Heather Wheeler, MP and Prime Minister’s Trade Envoy for Cambodia, Laos, Vietnam said in an interview with Vietnam News Agency correspondents.

VOV.VN - A bilateral free trade agreement between the United Kingdom and Vietnam was signed in London on December 29 by representatives of the two countries.

The UK-Vietnam Free Trade Agreement (UKVFTA), expected to come into force in the beginning of 2021, is promising several export opportunities to the European market for Vietnamese garment-textile and footwear enterprises.

VOV.VN - Vietnam has ratified a free frade agreement (FTA) with the European Union, and inked the Regional Comprehensive Economic Partnership , and another FTA with the United Kingdom, offering a window of opportunity for the country to boost trade with its partners.

Given uncertainties surrounding the US – China relations and the serious COVID-19 situations globally, Vietnam has become a logical choice in the eyes of investors.

The conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA) on December 11 holds a practical meaning to both nations as the pact is expected to help the two countries boost their post-pandemic recovery.

VOV.VN - Vietnam has emerged as the sixth largest wooden furniture exporter to the UK, grossing an export value of approximately US$422 million last year to make up 3.6% of the import market share, according to the Ministry of Industry and Trade.

VOV.VN - Incentives brought about by the implementation of the impending UK-Vietnam Free Trade Agreement (UKVFTA) are expected to assist Vietnamese rice exporters in increasing their market share in the UK, according to experts.