The Hanoitimes – The trade deal will open a new chapter in the Vietnam – UK relations, UK International Trade Secretary Liz Truss has said. Once coming into force, the UK – Vietnam Free Trade Agreement (UKVFTA) would serve as a major boost for a number of Vietnam's export staples, including seafood, rice, garment, vegetables, among others, suggested the Ministry of Industry and Trade (MoIT) in a report. Prime Minister Nguyen Xuan Phuc and UK International Trade Secretary Liz Truss in a meeting yesterday. Photo: Quang Hieu. In 2019, Vietnam exported seafood worth US$298.2 million to the UK, or 6.7% of the latter's total fishery imports. With the UKVFTA in place import tariffs for fresh or frozen shrimp would immediately go down to 0%. A zero-tariff rate is set to continue boosting Vietnam's exports of shrimp and catfish to the UK market, which also makes the sector more attractive in the eyes of investors looking to take advantage of the trade deal. A study from the Ministry of Planning and Investment (MPI) predicted export turnover of Vietnam's garment products to the EU market would expand by 67% by 2025 with the EU – Vietnam Free Trade Agreement (EVFTA). A similar effect… Read full this story
- PM calls for new measures to boost exports
- PM Phuc urges to boost exports
- CPTPP boosts export opportunities in Japan
- EVFTA to boost export growth by 5 per cent
- Workshop seeks ways to boost exports to RoK
- Trade promotion programmes improved to boost exports
- Livestock sector moves to boost exports in 2019
- Shrimp alliance formed to boost exports
- Thuan Duc JSC looks to boost exports to EU
- Nutifood joins hands with Swedish partner to boost export
UKVFTA to boost export of Vietnam key items have 270 words, post on hanoitimes.vn at December 12, 2020. This is cached page on VietMaz. If you want remove this page, please contact us.