UK-Vietnam free trade pact finalised
Last Friday, Britain and Vietnam
finalised a free trade agreement; it is the second deal London has reached in Southeast Asia while the deadlock over post-Brexit European Union arrangements seems to continue.
The deal with Vietnam comes into force January 1, 2021 and will be Britain s third, following Thursday s pact with Singapore and October s first post-Brexit trade deal with Japan.
Vietnam stands to benefit from tariff savings of £114 million on its exports while British exports will be £36 million better off, with 99 percent of tariffs eliminated once the agreement is fully implemented.
As reported on rfi.fr, British International Trade Secretary Liz Truss and Vietnam s Trade Minister Tran Tuan Anh on Friday finalised the deal which basically locks in the benefits of London s existing trading relationship with Vietnam under an EU deal.
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