Chairman Vuong Dinh Hue (R) and UK Secretary of State for International Trade Anne – Marie Trevelyan (Photo: VNA) London (VNA) – Vietnam is willing to create all favourable conditions for investors of the UK to operate in the Southeast Asian country, National Assembly (NA) Chairman Vuong Dinh Hue told UK Secretary of State for International Trade Anne – Marie Trevelyan during their meeting on June 29 (local time). trade and investment cooperation between the two countries. Vietnam and the UK to expand cooperation, especially economic, trade and investment ties. UK VFTA after Brexit. She thanked NA Chairman Hue, who is former Deputy Prime Minister, for his support and important contributions to accelerating the negotiation and ratification of this agreement. VNA … [Read more...] about NA Chairman vows favourable conditions for Vietnam-UK trade ties
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UK accepts Vietnam’s new passports
The United Kingdom has announced that they will continue to accept Vietnam's new passports which have recently been rejected by some other countries in the European Union due to missing place-of-birth information. In a notice posted on August 3, the UK Embassy said that visa applicants and travellers (including those in transit) should ensure they are fully aware of, and regularly check, the situation on acceptance of these documents for all their destination(s). The UK is the second country to have accepted the new Vietnamese passports. Earlier, the French embassy also said that the French authorities will continue to accept Vietnam's new-style passports and issue visas to their holders as normal. Meanwhile, Germany, the Czech Republic and Spain have announced that they do not accept those passports due to the omission of the province/city of birth information, causing difficulties for personal identification. Prime Minister Pham Minh Chinh on August 3 asked the … [Read more...] about UK accepts Vietnam’s new passports
UK continues to recognise Vietnam’s new passports
A new Vietnamese passport with dark navy cover (Source: VietnamPlus) Hanoi (VNA) - The United Kingdom will continue to recognise all passports issued by Vietnam despite some countries in the European Union rejecting the latest version due to missing place-of-birth information. “Visa applicants and travellers (including those in transit) should ensure they are fully aware of, and regularly checking, the situation on acceptance of these documents for all their destination(s),” the UK Embassy in Hanoi said in a notice posted on August 3. The UK is the second country to have expressly stated their recognition of the new Vietnamese passports with dark navy cover. On July 28, 2022, the French embassy said, for the time being and until further notice, the French authorities will continue to recognise the new passports of Vietnam and issue visas as normal. Meanwhile, Germany, the Czech Republic and Spain announced that they do not recognize the news-style passports due … [Read more...] about UK continues to recognise Vietnam’s new passports
Viet Nam’s timber industry urged to seek new opportunities in the UK
MDF production line at Thanh Thanh Dat MDF JSC's factory in Ha Tinh Province. — VNA/VNS Photo While many products exported to the UK enjoyed strong increases thanks to the UK-Viet Nam Free Trade Agreement (UKVFTA), Viet Nam’s timber industry is facing difficulties in expanding in this market, requiring manufacturers and exporters to change their business strategies. In fact, Viet Nam’s wood industry is seeing declining sales overseas. The export value in July was estimated at US$1.41 billion, down 5.5 per cent against June and 1.6 per cent year-on-year, according to a report of the General Department of Forestry under the Ministry of Agriculture and Rural Development (MARD). This was the second month that the export of wood and timber products decelerated. Earlier, figures from the General Department of Customs showed the export turnover of wood and wood products reached $1.4 billion in June, down nearly 11 per cent year-on-year. Ending July, wood and wood products were … [Read more...] about Viet Nam’s timber industry urged to seek new opportunities in the UK
Vietnam’s COP26 commitments drive attention from UK investment funds
The strong message sent by Vietnam’s Prime Minister at COP26 has significantly improved the country’s image in the eyes of international investors. Many UK investment funds are ready to come to Vietnam following Prime Minister Pham Minh Chinh’s commitments at COP26 for net zero carbon emission by 2050. Prime Minister Pham Minh Chinh and UK Ambassador to Vietnam Gareth Ward. Source: VGP UK outgoing Ambassador to Vietnam Gareth Ward gave the remarks during a farewell meeting with Prime Minister Pham Minh Chinh on August 2. According to Ward, the strong message sent by Chinh at COP26 has significantly improved Vietnam’s image in the eyes of international investors. The UK, in this regard, would continue to accompany Vietnam in sustainable development, especially in fighting climate change and pursuing green growth, Ward said. Prime Minister Chinh highly regarded Ward’s contribution during his term, which contributed to the progress of the Vietnam-UK … [Read more...] about Vietnam’s COP26 commitments drive attention from UK investment funds
Vietnam’s timber industry urged to seek new opportunities in UK
MDF production line at Thanh Thanh Dat MDF JSC's factory in Ha Tinh province. (Photo: VNA) Hanoi (VNS/VNA) - While many products exported to the UK enjoyed strong increases thanks to the UK-Vietnam Free Trade Agreement ( UKVFTA ), Vietnam’s timber industry is facing difficulties in expanding in this market, requiring manufacturers and exporters to change their business strategies. In fact, Vietnam’s wood industry is seeing declining sales overseas. The export value in July was estimated at 1.41 billion USD, down 5.5% against June and 1.6% year-on-year, according to a report of the General Department of Forestry under the Ministry of Agriculture and Rural Development (MARD). This was the second month that the export of wood and timber products decelerated. Earlier, figures from the General Department of Customs showed the export turnover of wood and wood products reached 1.4 billion USD in June, down nearly 11% year-on-year. Ending July, wood and wood products were … [Read more...] about Vietnam’s timber industry urged to seek new opportunities in UK
Viet Nam records $4.7 billion trade surplus with UK over 12 months
Making clothes at a garment company in Ha Noi. Clothing is among the top 5 export products to UK markets. — VNA/VNS Photo Viet Nam enjoyed a trade surplus of 3.9 billion pounds (over US$4.7 billion) in the four quarters to the end of March 2022, up nearly 22 per cent over the same period to 2021, reported the UK’s Department for International Trade. The data released early this week showed total trade in goods and services (exports plus imports) between the UK and Viet Nam was 5.7 billion pounds, an increase of 15 per cent year-on-year. During the reviewed period, total UK exports to Viet Nam amounted to 905 million pounds (an increase of 0.2 per cent), of which export of goods accounted for 68.3 per cent at 618 million pounds, up 3 per cent year-on-year, while services were 287 million pounds, making up 31.7 per cent and down 5.3 per cent year-on-year. Major products shipped from the UK to Viet Nam included pulp and waste paper (74.4 million pounds), medicinal and … [Read more...] about Viet Nam records $4.7 billion trade surplus with UK over 12 months
Vietnam records 4.7 billion USD trade surplus with UK over 12 months
Making clothes at a garment company in Hanoi. Clothing is among the top 5 export products to UK markets. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam Nam enjoyed a trade surplus of 3.9 billion pounds (over 4.7 billion USD) in the four quarters to the end of March 2022, up nearly 22% over the same period to 2021, reported the UK’s Department for International Trade. The data released early this week showed total trade in goods and services (exports plus imports) between the UK and Vietnam was 5.7 billion pounds, an increase of 15% year-on-year. During the reviewed period, total UK exports to Vietnam amounted to 905 million pounds (an increase of 0.2%), of which export of goods accounted for 68.3% at 618 million pounds, up 3% year-on-year, while services were 287 million pounds, making up 31.7% and down 5.3% year-on-year. Major products shipped from the UK to Vietnam included pulp and waste paper (74.4 million pounds), medicinal and pharmaceutical products (71.3 million … [Read more...] about Vietnam records 4.7 billion USD trade surplus with UK over 12 months
UK recognizes Vietnam’s new passport
"The U.K. currently continues to recognize the new Vietnamese passport. Visa applicants and travelers (including those in transit) should ensure they are fully aware of, and regularly checked, the situation on acceptance of these documents for all their destination(s)," it said in a Facebook post. Before the U.K., France had said last week it would recognize Vietnam’s new passport and issue visas to holders "until further notice." Yet the French Embassy in Vietnam recommended that visa applicants holding the new Vietnamese passports exclude their duration of stay or transit time in Germany. They are also asked to update their information, as "the situation can change rapidly." On Tuesday, the Czech Republic became the third country not recognizing Vietnam's new passports after Germany and Spain. All three countries explained their refusal as the exclusion of birthplace information. It is still not clear if the Czech Republic would stop issuing visas for the new Vietnamese … [Read more...] about UK recognizes Vietnam’s new passport
UK tariff preferences benefit Vietnam
Exporters are allowed to self-certify the origin of export and import shipments with a value of less than EUR6,000 On June 11, 2021, the Ministry of Industry and Trade issued Circular 02/2021/TT-BCT guiding the implementation of UKVFTA rules of origin. The circular took effect on July 26, 2021. Accordingly, for export value exceeding EUR6,000, exporters must obtain a certificate of origin authorized by the Ministry of Industry and Trade. Exporters are allowed to self-certify the origin of export and import shipments valued at less than EUR6,000 between the UK and Vietnam. For imports worth more than EUR6,000 into Vietnam, exporters registered in an electronic database authorized by the UK customs authorities are allowed to self-certify. Proof of origin must be submitted to Vietnamese customs within two years of imports. Customs authorities may require a translation if not in English. Certificates of origin are valid for 12 months and must be submitted to customs authorities of … [Read more...] about UK tariff preferences benefit Vietnam