After the UK-Vietnam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic.

Trade turnover between Vietnam and the U.K. in January increased by 78.6 percent from the same period in 2020, right after the UKVFTA came into effect.

The UK-Vietnam Free Trade Agreement (UKVFTA), which became effective on January 1, is expected to create a strong motivation pushing Vietnam forwards on the path of economic development and international integration.

The nation looks set to enjoy a wealth of opportunities to increase export turnover of numerous key products to the UK through the enforcement of the UK – Vietnam Free Trade Agreement (UKVFTA).

Vietnamese exporters in the steel and mechanic sectors expect to get easier access to the UK market following the signing of the UK-Vietnam Free Trade Agreement (UKVFTA) last month.

Vietnam and the UK concluded necessary procedures for the temporary application of the bilateral free trade agreement from 6am of January 1, 2021 (Vietnam time) following the signing of the deal on December 29, 2020.

Although the UK-Vietnam Free Trade Agreement (UKVFTA) inherits basic contents from the EU-Vietnam FTA (EVFTA), there remain differences between the two deals, said Vietnamese Trade Counsellor in the UK Nguyen Canh Cuong.

The UK – Việt Nam Free Trade Agreement (UKVFTA) was officially signed in London on December 29. On this occasion, Heather Wheeler, MP and British Prime Minister’s Trade Envoy for Cambodia, Laos, Việt Nam and Vietnamese Minister of Industry and Trade Trần Tuấn Anh spoke with Vietnam News Agency about opportunities and challenges of the newly-signed trade deal

Vietnam and the U.K. signed a bilateral free trade pact Tuesday to maintain their existing relationship once the Brexit transitional period ends on December 31.

The United Kingdom (UK) and Vietnam have signed a new free trade deal (UKVFTA) to ensure continuity of their trade once the Brexit transitional period ends on December 31, 2020. The agreement signed in Hanoi in mid-December marks a new beginning in bilateral relations.