There remains potential for Vietnam and the UK to tap the UK-Vietnam Free Trade Agreement (UKVFTA) and expand bilateral trade ties.

Vietnamese goods enjoy many advantages in the UK market, but Mr. Nguyen Canh Cuong, Commercial Counselor, Vietnam Trade Office in the UK said that this competitive advantage does not last forever.

Vietnam is having advantages in the British market, and Vietnamese exporters know how to utilise them, a diplomat has said.

The UKCA (UK Conformity Assessed) marking is the new product marking which demonstrates that certain goods are compliant with UK regulations and is used when these goods are placed on the market in Great Britain (GB). It covers all goods which previously required the CE marking and aerosol containers (which previously required the reverse epsilon marking).

The Vietnam - UK Free Trade Agreement (UKVFTA) has substantially assisted Vietnam’s coffee sector to expand its market share in the UK, according to the Foreign Trade Agency under the Ministry of Industry and Trade (MoIT).

Vietnamese businesses must stay vigilant and do their homework to avoid trade and legal disputes in exporting to the UK to take full advantage of the United Kingdom-Vietnam Free Trade Agreement (UKVFTA), which officially went into effect last May, say industry experts and policymakers.

With a dynamic industrial scene, Việt Nam may see players in industrial data centres or logistics. However, the focus may to largely be on services and financial services.

Rice and fish exporters across Vietnam’s Mekong Delta are ramping up production in order to meet the demands of European partners, particularly those from the UK.

The UK-Việt Nam Free Trade Agreement (UKVFTA) has had a clear impact on trade exchanges between Việt Nam and the UK, particularly in the field of agriculture, since it officially took effect on May 1, 2021.

Việt Nam hopes to boost its exports of computers, electronic products and components to the UK in the near future after it has gained success in shipping this group of goods to many other overseas markets.