09:14 | 16/12/2017 MUTRAP Corner
On December 4th, Vietnamese Minister of Industry and Trade Tran Tuan Anh had a working session with British Secretary of State for International Trade Liam Fox as part of his working visit to the UK from December 4-5th.
|Vietnamese Minister of Industry and Trade Tran Tuan Anh (1st L) and British Secretary of State for International Trade Liam Fox at the working session - Photo: MoIT|
At a meeting, Minister of Industry and Trade Tran Tuan Anh thanked British Secretary of State for International Trade Liam Fox for their receiption for the Vietnamese delegation
British Secretary of State for International Trade Liam Fox reasserted the British Government’s commitment to further boosting trade ties with Vietnam.
He said the UK always considers Vietnam as an important and potential trade partner and wants to expand multifaceted cooperation with the Southeast Asian nation.
The two countries should take new measures and initiatives to foster bilateral trade cooperation, he said.
Both officials also exchanged developments on bilateral trade and solutions to boost trade in the coming period.
In recent years, economic and trade relations between Vietnam and the UK have been developing fruitfully, with two-way trade hitting US$5.62 billion in 2016, up 4.3% year-on-year. The UK is now the third largest trade partner of Vietnam in Europe after Germany and the Netherlands.
For his part, Minister of Industry and Trade Tran Tuan Anh affirmed that Vietnam has attached great importance to the multifaceted strategic partnership with the UK, and has been making every effort to promote bilateral cooperation.
Solutions and initiatives should focus on sharing information concerning import policies, trade barriers and management of fake goods management as well as increasing trade promotion and market studying activities, thus facilitating two-way trade, he stressed.
The minister proposed that the UK create favourable conditions for prestigious Vietnamese exporters to join distribution networks in the UK, especially for ago-aquatic products, textiles-garments and footwear.
According to Liam Fox, the UK always supports the EU-Vietnam Free Trade Agreement and it will influence the acceleration of the FTA as long as it's still a member of the bloc.
Vietnam and the UK also highly evaluate the dialogue mechanism of the Vietnam-UK Joint Economic and Trade Commission (JETCO), considering this as a useful channel to regularly exchange measures and solutions to remove difficulties facing enterprises.
The upcoming 10th session of JETCO is scheduled to take place in the UK in the first quarter of 2018, focusing on ways to encourage the participation of businesses in JETCO and to enhance cooperation among localities of the two countries.