UK-Vietnam trade likely to reach $10 bn in one or two years

 

UK-Vietnam trade is expected to be worth $10 billion in the next one or two years due to strong support from the Vietnam-UK Free Trade Agreement (UKVFTA), which took effect in May 2021. Bilateral import-export turnover in 2021 reached $6.6 billion, a 17.2 per cent year-on-year rise and four times higher than the period before establishing the partnership.

In 2009, turnover was $2.65 billion.

Export and import revenues were $5.76 billion and $849 million respectively last year, rising by 16.4 per cent and 23.6 per cent, according to the department of the Europe-America market under the ministry of industry and trade.

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