UKVFTA brings positive results to bilateral trade
The UK-Viet Nam Free Trade Agreement (UKVFTA) has brought about positive results though it took effect recently, said head of the Ministry of Industry and Trade (MoIT)’s Multilateral Trade Policy Department Luong Hoang Thai at a seminar held in Ha Noi on January 18.
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| E-commerce in the UKFTA – the key to Viet Nam – UK growth. (Photo: VNA) |
The seminar, co-hosted by the MoIT and the British Embassy in Ha Noi, focused its discussion on e-commerce in the UKFTA – key to Viet Nam – UK growth.
Thai said room for Viet Nam – UK cooperation remains huge as Viet Nam’s shipments to the UK only accounted for 0.88 percent of its total imports while the UK’s exports to Viet Nam remain modest.
British Consul General in Ho Chi Minh City and Director for UK Trade in Vietnam Oliver Todd said the pandemic pushed Viet Nam’s e-commerce market to a growth of 53 percent compared to 2020, making it an optimal choice for businesses and people.
Nguyen Thi Minh Thuy, Director of the Vietnam Trade Promotion Agency’s Information Technology and Application Centre, said the UK is always among the top buyers on Alibaba.com, except farm produce.
Meanwhile, the Vietnamese firms successfully built the trademark “Made in Viet Nam” on the world map on Amazon.com, leaving a strong impression on the Vietnamese economy in the international market and in the UK in particular, she added.
Head of the International Cooperation Office under the MoIT’s E-Commerce and Digital Economy Agency Bui Thanh Hang suggested the State continues refining, legal framework and partnering with the UK to offer capacity improvement programs for businesses.
(Source: VNA)
