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The United Kingdom is the world’s fourth largest importer, but Vietnam’s share accounts for less than one percent of its total import value, signaling ample room for increased Vietnamese exports to this market.
Vietnam reached a record foreign trade value of an estimated US$750 billion in 2022.
The UK-Vietnam Free Trade Agreement (UKVFTA) officially came into force on May 1, 2021. The two countries have seen bilateral trade growth despite the COVID-19 pandemic, and the UK is forecast to remain a promising export market for Vietnamese goods.
Green trade with the EU will benefit Vietnam. In the opinion of economists, however, both enterprises and government agencies must make a sustained effort to adopt green trade standards.
Trade promotion has significantly contributed to Vietnam’s export achievements. Vietnam Economic News’ Viet Nga spoke with Vu Ba Phu, Head of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (VIETRADE) about the agency’s work.
Biodiversity seems, naturally, like a good thing but when it comes to fisheries management, it can involve competing trade-offs.
