The Cuu Long (Mekong) Delta province of An Giang has utilised the benefits of the UK-Viet Nam Free Trade Agreement (UKVFTA) to boost its exports to the United Kingdom.
In the first half of this year, the province exported US$7.6 million worth of goods to the UK and Northern Ireland, up 38 per cent year-on-year, according to the provincial Department of Industry and Trade.
After the UKVFTA took effect last year, the provincial People's Committee has paid attention to disseminating information about the agreement and the UK market to local agencies and firms.
Top priority has been given to providing them with training courses on the UK market, the UKVFTA's commitments in import and export of goods, tax reductions, rules of origin, import and export procedures, trade remedies, key procurement government and intellectual property.
The department has been assigned to establish a focal point for information on the UKVFTA while co-operating with other departments under the Ministry of Industry and Trade and Viet Nam's trade counsellors abroad to regularly update information about the market and new technical conditions imposed on imported goods by countries that participated in the FTA.
That would help local government agencies draw up measures to support businesses promptly and assist local firms in developing proactive business plans.
In addition, the locality has been implementing programmes on developing raw material areas and linkages served for the export markets including the UK. It has also concentrated on building new models of cooperatives which would provide rice, glutinous rice, vegetables and fruits for exports under the UKVFTA.
Trade and investment promotion activities have been also accelerated. Local firms have received support from local authorities to participate in production networks, value chains and supply chains with the participation of UK businesses to take advantage of the benefits of the UKVFTA. Meanwhile, the UK-invested enterprises have been encouraged to connect with domestic enterprises, contributing to the development of these supply chains.
Furthermore, the province has also teamed up with Vietnamese counsellors in the UK, Northern Ireland and other partners to help local firms participate in international fairs and exhibitions to introduce their potential export products, especially the province's main products and then seek new business opportunities.
Over the past six months of this year, An Giang generated nearly $564.2 million from exports, a year-on-year increase of 10 per cent or equivalent to 49 per cent of the yearly target, the department said.
It added several major export items such as rice, seafood, vegetable and garment accounting for 82 per cent or $462 million of the provincial total export turnover.
By the year-end, the locality is striving to earn $1.1 billion from exports, fulfilling its goal set for the year, according to the department. — VNS