HÀ NỘI — In the three years since the implementation of the United Kingdom - Việt Nam Free Trade Agreement (UKVFTA), its positive impacts on trade and investment are clear to see. 

Businesses, industries and even localities have embraced the benefits of this new-generation FTA to open markets and drive export growth. 

The latest report from the Ministry of Industry and Trade (MoIT) highlights that by 2022, 44 out of 63 provinces and cities in Việt Nam exported goods to the UK under UKVFTA, an increase of 13 localities compared to 2021.

Among the standout performers is Hòa Bình Province, which has seen significant growth in its exports to the UK. 

Agricultural products, such as rice, fruits and vegetables, are particularly well-positioned under UKVFTA. These products align with Hòa Bình’s strengths, where agriculture contributes 22.12 per cent to the province’s GRDP.

The province’s key products, such as Cao Phong oranges, red Tân Lạc grapefruits and Đà River fish, have gained a foothold in the UK market. Through companies like R.Y.B JSC, over 100 speciality items, including honey-preserved lemons, turmeric starch and herbal teas, have reached UK consumers. 

The initial positive reception signals the potential for larger orders in the years ahead.

To maximise UKVFTA’s benefits, businesses in Hòa Bình have proactively adapted their practices. 

They are aligning production processes and sourcing materials to meet the agreement’s stringent rules of origin. Efforts to overcome technical barriers include improving product quality, professionalising sales processes and investing in branding. These measures have enhanced the competitiveness of local enterprises and their products in the UK market.

The provincial Department of Industry and Trade underscores the importance of understanding UKVFTA’s commitments, especially those related to tariffs and origin rules. Training sessions help businesses stay informed and prepared to comply with international standards.

Looking forward, Hòa Bình aims to amplify the UKVFTA’s advantages. Plans include increasing education and outreach about UKVFTA provisions to a broader audience, including small-scale farmers and micro-enterprises. It will also develop support programmes tailored to small and medium-sized enterprises (SMEs) to enhance product quality and market readiness.

The province intends to boost market research to identify high-potential export products for the UK market while aligning export strategies with environmental protection and social welfare policies to ensure long-term, sustainable growth. — VNS