The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade (MoIT) on November 18 organised a seminar on trade promotion in the European market, focusing on potential for expanding exports to the European market via official channels.

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.

VOV.VN - Vietnamese tuna is enjoying several advantages in the UK market thanks to tariff incentives from the UK-Vietnam Free Trade Agreement (UKVFTA).

VOV.VN - In the first half of this year, the total trade turnover between Vietnam and the UK reached more than US$3.9 billion, an increase of 21.7% over the same period from 2023, with Vietnam recording a trade surplus of more than US$3.2 billion, up 28.5% on-year, according to preliminary statistics compiled by the General Department of Customs.

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.