Vietnam-UK bilateral trade sky-rockets

January 10, 2013 | 09:28

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Two-way trade between Vietnam and the UK in recent years has experienced robust growth at over 20 per cent per annum, despite negative impacts of the global economic crisis, according to the Vietnamese embassy in the UK and North Ireland.

In the first 10 months of 2012, bilateral trade enjoyed a year-on-year increase of 36 per cent to stand at $3.57 billion. Of which, Vietnam’s export revenue ascended to $3.19 billion, up 44 per cent year on year, while imports climbed 91 per cent to $377.5 million.

The strong growth in the reviewed period was thanks to a number of reciprocal conditions that support the two economies’ cooperation, said the embassy’s commercial counsellor Nguyen Thi Hong Thuy.

In order to keep the momentum in 2013, she suggested that Vietnamese businesses should intensify trade promotions in the so called fog island.

Bilateral trade for 2012 is estimated to reach over $4 billion, already exceeding the set target of $4 billion for 2013.

In 2011, the UK was the second largest European trade partner of Vietnam (after Germany) with more than $3 billion worth of goods exchanged between the two countries.

QĐND

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