New trade agreement with Vietnam

The EU and Vietnam have approved a new free trade agreement that will ease trade of products and services between the UK and Europe with the Vietnamese market. In practice the deal means 99% of tariffs will be eliminated – worth £20 million a year for UK businesses exporting to Vietnam.

Commenting on the deal Business Secretary, Sajid Javid, said: “Great news for British businesses enabling access to a fast-growing market of 90 million people in one of the most dynamic regions in the world – boosting export opportunities for our world-class food and drink, pharmaceutical and aeronautical sectors to benefit our long-term economic security.”