Vietnamese agricultural product exporters that want to establish long-term business relationship with the UK need to have appropriate strategies, and approach potential partners in order to take advantage of export opportunities to this important market – the second biggest economy in Europe.
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.
Two-way trade between Vietnam and the UK in the first two months of the year surged 29.2%year-on-year, hitting US$1.1 billion, according to the Ministry of Industry and Trade.
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.