Textiles and garments are among the main export items to the UK of five central cities. Photo: Hong Dat/VNA[/caption] After more than two years of implementing the UK-Vietnam Free Trade Agreement (UKVFTA), trade cooperation between the UK and five central cities of Vietnam, including Ho Chi Minh City, Hanoi, Hai Phong, Da Nang and Can Tho, has witnessed significant growth. Last year, the total trade value between the UK and the above cities reached more than 2.63 billion USD. Of which, export turnover reached 1.59 billion USD, up 3.5% over the same period last year, while imports decreased slightly by 1.3% to 1.04 billion USD. The main export items of these five cities to the UK include textiles and garments, footwear, handbags, metal industry, minerals and handicrafts. Meanwhile, the five central cities mainly imported metallurgical products, animal feed and raw materials, electronic and computer components, chemicals and pharmaceuticals. Reports from these five cities showed that Free Trade Agreements (FTAs), including the UKVFTA, have made positive contributions to promoting the socio-economic development of these cities. The FTAs have contributed to the growth of two-way trade value, increased export turnover, and made important contributions to the GDP growth of the five cities. However, despite the positive growth in exports to FTA markets, especially the UK market, the export proportion has not yet reached the expected level. FDI enterprises still account for a large proportion, and many Vietnamese enterprises have not yet built export brands, posing challenges in taking advantage of incentives from FTAs. To take advantage of the opportunities from the UKVFTA, the five target cities will strengthen their propaganda campaigns, disseminate export market information and support businesses in the export sector. In particular, the government will focus strongly on sustainable development and labor management so that businesses can actively adapt to restrictive conditions and eliminate non-tariff barriers. At the same time, the five cities will also promote administrative reforms in all areas, especially in the fields of investment, construction, land, tax, customs, and import and export, to meet all commitments related to international economic integration. In addition, the five cities will consider creating large raw material areas to meet production needs, reduce imports and meet origin conditions to take advantage of incentives. At the same time, they will promote trade promotion activities, support businesses to introduce and promote products, seek partners, and enhance cooperation and export opportunities. Central cities will work closely with the Ministry of Industry and Trade to closely monitor the export situation, in order to support businesses in grasping new information about the market, import and export needs, cooperation opportunities, and accessing the market in a timely manner./.Yellow River
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