Ukvfta

Vietnam is now ideally placed to attract additional foreign investment from the UK, the fifth largest global investor, said Tim Evans, CEO of HSBC Vietnam.

Not only witnessing a sharp increase in trade turnover, there has been a greater diversification in export market.

The initial results of the UK-Vietnam Free Trade Agreement promise to continue creating new impetus for economic and trade cooperation between the two countries in the coming time.

The UK is a major trading partner for members in the CPTPP, including Vietnam.

Vietnam trade policy is on right track with record high of US$544-billion turnover in 2020, in which e-commerce is an inevitable trend for local firms to access markets and increase trade value in the coming time.

Vietnam’s strong growth momentum in manufacturing is expected to continue in 2021, supported by growing external demand from trade deals such as the EVFTA, UKVFTA, and RCEP.

The bilateral trade deal will ensure the continuity in trade relations between the UK and Vietnam after the Brexit’s transitional period ends on December 31, 2020.

The trade deal is expected to spark new opportunities for Vietnam as one of the few Asian countries to secure an exclusive FTA with the UK.

Vietnam continues to be among the world’s most attractive emerging economies, the HSBC Vietnam CEO Tim Evans has said.

The UK and Vietnam announced on December 11 the conclusion of the UK-Vietnam Free Trade Agreement (UKVFTA).