Vietnam’s exports to UK gain average annual growth rate of 9.4 percent

The conference took place in the capital city of Hanoi.

At the conference, the experts considered that after three years of implementing the United Kingdom - Vietnam - Free Trade Agreement (UKVFTA), the bilateral trade has recorded strong growth under the context of difficulties in the global economy.

Representative of the European-American Market Department under the Ministry of Industry and Trade Vu Viet Thanh informed that the two-way trade between the two countries gained a growth of 8.9 percent in average annually.

Of which, exports of Vietnam to the UK surged 9.4 percent thanks to the UKVFTA.

Vietnam's main export products to the UK were textiles, footwear, machinery and seafood with growth rates of from 12 percent to 19 percent.

Seafood such as shrimp and pangasius have benefited greatly from the zero percent import tax, with shrimp accounting for 70 percent of seafood exports to the UK, while pangasius accounting for 20 percent.

Deputy General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that the UKVFTA’s advantages have motivated Vietnamese enterprises to expand their business activities in the UK.

The rate of utilizing incentives following certificates of origin has reached over 30 percent.