Deputy Minister of Industry and Trade, Dang Hoang An, recently held a working session with UK Ambassador to Vietnam Gareth Ward (Photo: VOV)

Both sides said the UK-Vietnam Free Trade Agreement (UKVFTA), which took effect on January 1, will create a new driving force to lift bilateral trade and investment ties. Last year, two-way trade hit 5.6 billion USD despite COVID-19, 4.95 billion USD was from Vietnam’s export. The UK remained the third biggest export market for Vietnam in Europe.

In the near future, the Vietnamese Ministry of Industry and Trade (MoIT) and the UK Embassy in Vietnam will continue working closely together to effectively use the UKVFTA and further improve trade.

Both sides still plan to organise the 12th meeting of the Vietnam – UK Joint Economic and Trade Committee (JETCO 12) in the UK when the pandemic is under control.

The UK wishes to hold online dialogues with MoIT to discuss renewable energy development scheduled for February 24 and early March.

The two sides agreed to continue studying measures to boost cooperation in renewable energy.