Vietnamese Businesses Benefit from Rules of Origin as UK Joins CPTPP

Vietnamese businesses gain new opportunities to source raw materials from CPTPP member countries, including the UK. The UK's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) marks a significant milestone, signifying the UK's commitment to market integration and opening. The CPTPP reduces tariffs on many Vietnamese goods exported to the UK, strengthening bilateral trade. This, coupled with the UK-Vietnam Free Trade Agreement (UKVFTA), significantly boosts the Vietnam-UK economic relationship. While bilateral trade reached 8.4 billion USD in 2024, there's still untapped potential. Leveraging the rules of origin within the CPTPP allows businesses to enhance exports and expand into new markets. This agreement, along with the UKVFTA, provides significant advantages for businesses involved in global trade and agricultural exports, particularly concerning market access and tariff preferences.