Last year, the trade turnover among the UK and the five centrally-run cities reached over $2.63 million.

Currently, Việt Nam is the 23rd largest tea supplier to the UK market. However, Vietnamese tea exports to the market decreased sharply both in value and volume over the first half of 2023.

The reduction in seafood exports is gradually narrowing, seafood processing and exporting enterprises are trying to find opportunities to boost exports in the last months of the year.

Việt Nam, as an open economy with multiple Free Trade Agreements (FTAs) in place, is committed to fulfilling its obligations in the automobile import sector.

Both sides have also agreed on plans to organise the 14th Việt Nam-UK Joint Economic and Trade Committee (JETCO 14)and the 3rd meeting of the Joint Trade Committee for the UKVFTA in 2024 in the UK.

Deputy Minister of Agriculture and Rural Development Phùng Đức Tiến on Tuesday had a working session with the visiting Secretary of State for Scotland Alister Jack in Hà Nội.

Wood and wood product exports to the UK, as well as other major export markets, are expected to recover this year after a significant drop, industry experts have predicted.

A series of new policies from the import market pose many challenges for domestic export businesses, in which textiles, furniture and household appliances are directly affected industries.

The UK-Vietnam Free Trade Agreement (UKVFTA) has had a significant impact on Vietnam’s export-oriented industries, driving growth and opening up new opportunities for both countries, experts have said.

The second meeting of the Vietnam-UK Free Trade Agreement (UKVFTA) Trade Committee took place in Hanoi on August 24 under the co-chair of Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang and British Minister of State for International Trade Nigel Huddleston.