UK-Vietnam Free Trade Agreement Enters Into Force
A free trade agreement between the United Kingdom and Vietnam entered into force on May 1, the U.K.'s Department for International Trade announced in a press release. The agreement covers 5.1 billion British pounds in trade and secures the elimination…
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of tariffs on 99% of goods after six years. In particular, tariffs will be lifted for U.K. exports of machinery, mechanical appliances and pharmaceuticals, and for Vietnamese exports of phones, garments, footwear and fish. The agreement also insures that U.K. companies have access to public procurement markets in Vietnam, with more opportunity to bid on public procurement contracts.