• Linkdin

Vietnam-UK FTA triggers two-way trade

08 Mar '21
1 min read
Pic: Shutterstock
Pic: Shutterstock

After a month of Vietnam signing a free trade agreement (FTA) with the United Kingdom, bilateral trade witnessed a 78.57 per cent year-on-year (YoY) increase, according to the former’s general customs department (GCD), which recently reported that despite the hitches due to the pandemic, trading between both sides outstripped $657 million in January.

Vietnam's exports to the United Kingdom reached $598 million, 84.61 per cent more than the same month last year. Imports from there to Vietnam reached over $59.3 million, a 34.3 per cent YoY increase. Products included metal, pesticide and textile materials, a Vietnamese newspaper reported.

Last year, export-import turnover between the two countries reached $5.64 billion, in which Vietnam's exports reached $4.95 billion, resulting in a trade surplus of $4.27 billion. The United Kingdom continued to be Vietnam's third-biggest trade partner in Europe, behind Germany and the Netherlands.

Fibre2Fashion News Desk (DS)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search