UK-Vietnam trade likely to reach $10 bn in one or two years

In 2009, turnover was $2.65 billion.

Export and import revenues were $5.76 billion and $849 million respectively last year, rising by 16.4 per cent and 23.6 per cent, according to the department of the Europe-America market under the ministry of industry and trade.

Rise in demand for consumer goods in the United Kingdom has created more opportunities for Vietnamese exporters. The United Kingdom is the third largest trading partner of Vietnam in Europe after Germany and the Netherlands.

Total UK direct investment capital into Vietnam by 2021 was $4.15 billion, double the amount before establishing the strategic partnership, according to a Vietnamese media report. In 2009, the figure was a mere $2 billion.

Fibre2Fashion News Desk (DS)