Vietnamese rice to be destined for the UK. Photo: VNA

“Bilateral trade turnover has reached more than 6.6 billion USD, an increase of 17% over the same period last year, and has basically recovered to the pre-pandemic level. This is a huge contribution of the Free Trade Agreement between Vietnam and the UK. This FTA can be utilized by both sides. Vietnam's exports to the UK have increased by 16% and the UK's exports to Vietnam have increased by 24%, meeting the huge demand for raw materials as well as machinery and equipment for Vietnam. These show that businesses of both sides have taken advantage of this agreement.” Mr. Khanh said. 

2021 is the first year of implementing the UK-Vietnam Free Trade Agreement (UKVFTA) Vietnam's strong export industries such as textiles, garments, footwear, seafood, and furniture are benefiting from the deal. The UK also grants Vietnam additional duty-free imports for 14 other products, including rice.  

Deputy Minister Khanh urged Vietnamese businesses to better utilize the FTA, saying “Enterprises needs to carefully study the agreement and find out where the opportunities are. Then, it’s necessary to learn about UK legislation on imports and  find ways to make your products meet the requirements of the UK. Product quality needs to be improved to enhance competitiveness.”