(VOVWORLD) - The UK-Vietnam Free Trade Agreement has created clear advantages for many products of strength of both countries to penetrate each other's markets, together with an extensive tariff reduction roadmap, said delegates at a conference themed “The UKVFTA – Green and Fair Trade with Vietnam” in Hanoi on Tuesday.
 The Conference "UKVFTA – Green and Fair Trade with Vietnam” (photo: VOV) |
Nguyen Khanh Ngoc, Deputy Director of the Department of Europe and America, Ministry of Industry and Trade, said advantages from the UKVFTA Agreement along with the UK's policy of strong transition to a green and sustainable economy will open up great opportunities for Vietnamese businesses.
"The UK has advantages on technology, renewable energy. When their businesses are interested in investing in Vietnam, it also means imports are likely to increase. Vietnamese businesses should carefully meet goods and environmental requirements and keep up with the trend," said Ngoc.
Foreign investors, including those from the UK, are becoming more and more concerned about the environment and climate, said Ambassador of the UK to Vietnam Iain Frew. He said that his country is delighted that Vietnam is becoming a regional leader in sustainability, with its ambitious commitment to net-zero emisison by 2050 at COP26.
The UK is the 15th of 141 countries and territories investing in Vietnam, mostly in renewable energy, finance, banking, and petroleum.