Hòa Bình's Diễn pomelos are exported to the UK. An online seminar on opportunities to develop green trade products exported to the UK market is held on December 11. — VNA/VNS Photo

HÀ NỘI — An online seminar on opportunities to develop green trade products exported to the UK market will be held at Industry and Trade Magazine's site and the Proud of Vietnamese Goods fanpage on December 11.

After more than three years of implementing the Việt Nam-United Kingdom of Great Britain and Northern Ireland Free Trade Agreement (UKVFTA), exports to the UK have continuously maintained growth momentum.

This is the result of the efforts of businesses and authorities. In addition, removing all tariffs at the UKVFTA has also contributed significantly to increasing the market share of Việt Nam's products in the UK.

However, Vietnamese exports still face many challenges, as the UK has set high standard requirements for green products. Specifically, the UK has demanded that imports require reduced emissions during the production process, have no pesticide residues and follow strict compliance with labour and resource saving regulations.

According to experts, to take all advantages from bilateral FTAs, Vietnamese enterprises must pay attention to green trading rules, an inevitable development trend of global trade.

This issue will be shared by experts with a more diverse and in-depth perspective at this online seminar.

The UKVFA has become an important impetus to leverage the bilateral economic, trade and investment to new highs since the trade deal took effect in May 2021.

Việt Nam’s exports to the UK benefitted significantly from the trade deal. The UK was the ninth largest export market of Việt Nam in the world and fourth in the EU in 2023.

Notably, the bilateral trade between Việt Nam and the UK is a spotlight in the context that Việt Nam’s exports to major markets saw unprecedented drops, even double digits, due to the impacts of geo-political tensions and global slowdown.

The bilateral trade increased 8.9 per cent per year on average during the past three years, in which Việt Nam’s exports to the UK rose by 9.4 per cent, much higher than the growth rate of Việt Nam’s export to the EU-27.

With radical tariff elimination, the UKVFTA has contributed to boosting exports of Vietnamese products to the UK, including in garments, footwear, agricultural and fisheries products.

The UK’s exports to Việt Nam have also increased significantly, especially in terms of high-tech products and high-quality raw materials such as machineries, automobile, chemicals and pharmaceuticals. — VNS