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Hanoi (VNS/VNA) – A yr after the UK-Vietnam Free Commerce
Settlement (UKVFTA) got here into impact in early 2021, commerce between the 2
nations has proven vital development regardless of the influence of the COVID-19
pandemic, mentioned an official of the Ministry of Business and Commerce (MoIT).
Accordingly, commerce between Vietnam and the UK reached 6.6 billion USD in 2021,
a rise of 17% on the yr and equal to the pre-pandemic interval.
Whereas Vietnamese export to the UK rose 16.4% year-on-year to five.7 billion USD,
UK’s export to Vietnam additionally witnessed a achieve of 23.6% to just about 850 million USD.
In 2021, merchandise imported from the UK with the best development charge
respectively had been widespread metals (426%), telephones and elements (219%), textile,
garment and footwear supplies (24.7%), prescribed drugs (35.4%), and automobiles (28%),
in keeping with information from the Basic Division of Vietnam Customs.
Vietnamese merchandise with a pointy development in shipments to the UK market had been
fruit and veggies (67%), espresso (17%), pepper (49%), iron and metal (1,269%),
and toys and sports activities tools (19%).
“The outcomes confirmed that the UKVFTA is sort of a two-way high-speed prepare, serving to
us to spice up exports to the UK and vice versa, the UK additionally will increase exports to Vietnam”,
Ngo Chung Khanh, deputy head of Multilateral Commerce Coverage Division, at a
webinar on “Selling the strengths of companies – Utilising alternatives
from the UKVFTA.”
This helped equalise the commerce steadiness between the 2 nations, he added.
Information from the Basic Division of Vietnam Customs confirmed that in
the primary half of 2022, the nation exported 2.9 billion USD of commodities to
the UK whereas importing greater than 372.5 million USD.
This reveals the activeness and initiative of enterprises in exploiting new alternatives
from the settlement./.
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