Vietnam Expects to Earn USUS$1.2Bln from Exports to UK in 2005

Vietnam Expects to Earn USUS$1.2Bln from Exports to UK in 2005

Vietnam is likely to rake in USUS$1.2 billion from exports to the UK this year, up 20 per cent against 2004, according to the Information Center of the Ministry of Trade.

Vietnam exports mainly footwear products, woodworks, apparel products, bicycles, coffee, seafood and mattresses to the UK, which is now Vietnam’s seventh largest export market.

Last year, Vietnam secured USUS$1.01 billion from exporting to the UK, up 34 per cent against the previous year. The country spent over USUS$200 million on imports from the UK in the year.

According to trade experts, Vietnamese exports to the UK still face many trade barriers and heavy competition from other countries in Asia.

Vietnam Economic Times