UKVFTA to take effect from end of 2020

The UKVFTA signed by the authorized representatives (Ambassadors) of the Governments of the two countries in London. (Photo credit to Ministry of Industry and Trade)

According to the Ministry of Industry and Trade’s office, the two countries’ ambassadors were authorised to sign the deal as leading officials of the Vietnamese Government and Minister of Industry and Trade Tran Tuan Anh were unable to travel to the UK to sign directly amid the COVID-19 pandemic.

Earlier, on December 11, Minister Tran Tuan Anh and UK Secretary of State for International Trade Elizabeth Truss signed the minutes on the conclusion of negotiations for the UKVFTA.

The UKVFTA was negotiated based on principles of commitments of the EU-Vietnam FTA with necessary adjustments to ensure the deal conforms with the Vietnam-UK bilateral trade framework.

Currently, the two sides are rushing to complete domestic procedures in accordance with the laws of each party so as to ensure the agreement can be implemented from 23:00 on December 31.

In the context that the UK officially left the EU and the Brexit transition period is about to end on December 31, the signing of the free trade agreement will ensure that bilateral trade cannot be disrupted.

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