Vietnam, UK seek to optimise efficiency of bilateral FTA
(VOVWORLD) - The second meeting of the Vietnam-UK Free Trade Agreement (UKVFTA) Trade Committee took place in Hanoi on Thursday under the co-chair of Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang and British Minister of State for International Trade Nigel Huddleston.
 According to the General Department of Vietnam Customs, trade between Vietnam and the UK rises 0.5% to 3.95 billion USD in the first seven months of this year, including Vietnam’s exports of 2.5 billion USD.(Photo: Ministry of Industry and Trade) |
Participants listened to reports on outcomes of meetings of professional committees that were held earlier.
Both Thang and Huddleston hailed efforts of the committees in coordinating together and updating each other on each side’s legal regulations, contributing to effectively implementing the UKVFTA.
The two sides discussed a number of issues such as the increase of Vietnamese rice exporters’ opportunities to access the UK market, and methods to calculate the free trade agreement utilisation rate.
Concluding the meeting, Thang and Huddleston agreed on the continuing to actively and closely cooperate at all levels to further enhance the exploitation of commitments of the deal, contributing to promoting the bilateral trade and investment.
The two sides agreed to hold the third meeting of the UKVFTA Trade Committee in London in 2024.