UK-Vietnam Free Trade Agreement

UKVFTA removes 94 per cent of the total 547 tax lines on fruits and vegetables

The UK-Vietnam Free Trade Agreement (UKVFTA) is expected to help Vietnam accelerate institutional reforms, improve the investment and trade environment towards modernity and transparency, as well as create convenience for businesses. In particular, with deep commitments to open markets for goods and services, the UKVFTA will be a strong lever promoting bilateral trade and investment exchanges between Vietnam and the UK.

The UKVFTA immediately removes 94 per cent of the total 547 tax lines on fruits and vegetables and their products, including many items that are strengths of Vietnam, such as litchi, longan, rambutan, dragon fruit, pineapple, and melon. In 2021, vegetables and fruits exported to the UK reached $19.35 million and increased by nearly 67 per cent compared to 2020, ranked 4th in terms of growth rate.

Source: einnews.com


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