Vietnam-UK trade deal to officially take effect from May Representatives of Vietnam and the UK hand over notes confirming the date when the UKVFTA comes into force. Vietnam will announce to the UK side its ratification of the UK-Vietnam Free Trade Agreement (UKVFTA) this month, so the deal can officially come into force from May 1. According to the European-American Market Department under the Ministry of Industry and Trade (MoIT), the ministry has promptly and closely coordinated with the UK in the signing and completion of necessary procedures in order to put the pact in place as soon as possible. The Vietnamese Government's recent adoption of a resolution ratifying the UKVFTA will see the deal, which temporarily took effect from January 1, become officially effective. Figures released by the General Department of Vietnam Customs show that in the first two months of this year, trade between Vietnam and the UK reached over 1.02 billion USD, up 20.05 percent year-on-year. The figure reflects the momentum created by the UKVFTA to recover bilateral trade. Economic and trade cooperation will continue to be a bright spot in the relationship between the two sides, given the UK has rolled out mass COVID-19 vaccinations and… Read full this story
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