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.

The northern province of Thai Binh introduced its potential and advantages to British enterprises at an investment promotion conference in London on October 12, pledging the best possible environment for all investors.

VOV.VN - The Vietnamese Foreign Ministry’s Department of Foreign Affairs for Provinces and the Vietnamese Embassy in the UK co-hosted a seminar titled "Connecting Vietnam-West Midlands", with the event focusing on the west-central region of the UK, in Birmingham on October 10 within the framework of a promotion programme for Vietnamese localities in the UK this year.