The United Kingdom is the second largest economy in Europe, with a free trade policy and a large demand for agricultural imports so Vietnamese exporting firms, particularly coffee exporters, should make use of opportunities brought about by the UK-Vietnam Free Trade Agreement (UKVFTA) as well as issue a strategy to approach potential partners to push up exports to this market, according to Vietnamese Trade Office in the UK.

British investment in the Vietnamese market is enjoying an increase following the UK’s withdrawal from the EU and the UK-Vietnam Free Trade Agreement (UKVFTA) coming into force, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Despite difficulties caused by the complicated development of the COVID-19 pandemic, trade relations between Vietnam and the UK still achieved good growth during the first year of the implementation of the free trade agreement between the two countries (UKVFTA).

Two-way trade between Vietnam and the United Kingdom rose 17% year on year last year to US$6.6 billion, of which Vietnam produced US$4,8 billion in trade surplus.

The UKVFTA has created strong spillovers, not only in trade but also in investment from the UK to Vietnam and vice versa.

Although the UKVFTA has been in effect for just a year, it has brought a noticeable increase in trade between Việt Nam and the UK.

Vietnam has great opportunities to export rice, fruit and other agricultural products to the UK, one of the 10 largest markets in the world, with an annual food import turnover of more than US$65 billion.

Vietnamese agricultural product exporters that want to establish long-term business relationship with the UK need to have appropriate strategies

The export value of local timber and wood products to the UK market during the first half of the year soared by 53.5% to US$146.5 million against the same period last year, according to the Vietnam Timber and Forest Products Association (VIFOREST).

Son La province held a ceremony on July 21, in Song Ma district, to announce the decision granting certificates of trademark registration for the "Son La longan" and to cut the ribbon to send off the batch of Song Ma-Son La longans to the EU and UK markets for 2021.