UK signs free trade agreement with Vietnam
Dec 29, 2020
London [UK], December 30 (ANI/Sputnik): The United Kingdom and Vietnam signed an agreement on free trade, Trade Secretary Elizabeth Truss said Tuesday.
Earlier in the month, the country's government announced signing a free trade deal with Singapore and concluded negotiations with Vietnam.
"Today our Ambassadors signed the UK Vietnam trade deal securing continuity for businesses," Truss tweeted, adding that the deal will gradually remove 99 per cent of tariffs.
According to the VNA news agency, the ceremony took place in London and involved the ambassadors as the Vietnamese trade minister and high-level officials were unable to visit the UK over the situation with COVID-19.
The agreement will come into force on Friday and stipulates elimination of 99 per cent of tariffs within seven years.
After the UK officially left the EU on January 31, it has been working to secure various bilateral economy-related deals with various countries amid the transition period, which will end this Thursday. (ANI/Sputnik)
