Vietnam, UK hold trade talks
(VOVWORLD) - The UK and Vietnam held their first Joint Economic and Trade Committee (JETCO) in three years on Wednesday in a bid to increase cooperation across several sectors, including education, agriculture, technology, healthcare and renewable energy, according to gov.uk website.
 Vice Minister of Industry and Trade Dang Hoang An (Photo: Tran Viet/ VNA) |
The Minister of State for Trade Policy, Penny Mordaunt and her Vietnamese counterpart, Mr Dang Hoang An, Vice Minister of Industry and Trade, chaired the talks.
“Our talks today strengthen ties between our nations, including resolving market access barriers into each other’s economies and providing support to Vietnam so that they can reach their net-zero commitments,” said Minister of State for Trade Policy Mordaunt .
The UK and Vietnam share a longstanding trading relationship, with trade increasing between the two countries by almost 11% from 2020, when the UK-Vietnam Free Trade Agreement was signed, and 2021. This agreement eliminates 99% of all tariffs and helps forge a deeper relationship with a country who shares UK belief in free trade, according to Mordaunt.
Vietnam is a member of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) which the UK remains on track to join by the end of this year, moving into the final phase of negotiations at the beginning of 2022, said gov.uk.