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UK, Vietnam agree to step up measures to ramp up economic cooperation

15 Jan '25
1 min read
UK, Vietnam agree to step up measures to ramp up economic cooperation
Pic: Adobe Stock

Insights

  • Vietnamese envoy to the UK Do Minh Hung and UK minister of state for business and trade Douglas Alexander have agreed to ramp up economic cooperation.
  • They reaffirmed their commitment to advancing energy transition collaboration within the Just Energy Transition Partnership and agreed to capitalise on the opportunities offered by the CPTPP to promote bilateral trade and investment.
Vietnamese ambassador to the United Kingdom Do Minh Hung and the latter’s minister of state for business and trade Douglas Alexander recently met in London and identified trade and investment cooperation as an important pillar of their strategic partnership. They agreed to step up measures to ramp up economic cooperation.

The two sides agreed to speed up the implementation of bilateral cooperation mechanisms, particularly the Joint Economic and Trade Committee (JETCO) and closely coordinate to realise the UK-Vietnam Free Trade Agreement (UKVFTA).

Both sides agreed to capitalise on the opportunities offered by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to promote bilateral trade and investment and among CPTPP member nations, contributing to regional economic integration, a Vietnamese news agency reported.

They reaffirmed their commitment to advancing energy transition collaboration within the framework of the Just Energy Transition Partnership (JETP).

The United Kingdom promised to support Vietnam in setting up an international financial centre in Ho Chi Minh City.

Fibre2Fashion News Desk (DS)

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