Vietnam is likely to earn US$1.8 billion from exports to the UK this year as there have been positive signs in the country’s export turnover, said Vietnamese trade counsellor to the UK, An The Dung.

This year, despite the impact of the global economic crisis, Vietnam-UK economic and trade relations have developed well through the exchange of high-level visits, meetings among businesses of both countries and trade promotion programmes. Around 60 Vietnamese delegations have made fact-finding tours of the UK.

According to a recent report released by the UK Trade and Investment (UKTI), Vietnam is considered as one of 17 major markets of UK businesses. Under another survey on selecting markets for future trade and investment activities, Vietnam is listed among 15 markets which are seen as lucrative to foreign investors.

Dung quoted the UK’s Statistics Agency as saying as of October 2009, the UK’s import turnover from Vietnam reached GBP893 million, up 7.4 percent against the same period last year. Its export turnover to Vietnam was GBP171 million, up 12 percent. Total import-export turnover in 10 months reached GBP1.064 billion, up 7.4 percent from a year earlier.