Workshop discusses UK’s green and fair trade with Vietnam

13:09 | 08/03/2023 Foreign trade Follow Ven.vn on

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.

Speaking at a workshop themed “The UKVFTA – Green and Fair Trade with Vietnam” on March 7 in Hanoi, Frew said his country is delighted that Vietnam is becoming a regional leader in sustainability, with its ambitious commitment to net-zero emissions by 2050 at COP26.

Jointly hosted by the Ministry of Industry and Trade and the UK Embassy in Vietnam, the hybrid event provides a platform for discussion on the UK’s green and fair trade with Vietnam through the UK-Vietnam Free Trade Agreement (UKVFTA) , commitments on renewable energy generation, plans to implement these commitments and opportunities and challenges in renewable energy development in Vietnam.

Workshop discusses UK’s green and fair trade with Vietnam

Participants at the seminar - Photo: VNA

It is expected to help the export business communities of both countries fully tap the incentives from the agreement, especially in the field of green and fair trade – the inevitable development trend of global trade.

In addition to the extensive tariff reduction roadmap, the UKVFTA also creates clear advantages for many products of strength of both countries to penetrate each other's markets.

On the other hand, with commitments related to sustainable development, the agreement is also an important framework for cooperation activities on green and fair trade.

Deputy Minister of Industry and Trade Dang Hoang An said that Vietnam is in the transition to fulfill international commitments on sustainable development, energy saving and climate change response.

For businesses, this is an opportunity to create environmentally friendly goods and services, and make them adaptive to increasingly high standards on environmental protection and anti-climate change, he noted, adding that the workshop is the initial contribution to improving social understanding and governance capacity as well as to supporting businesses in addressing new and urgent issues, he said.

Speakers and experts provided more specific information on relevant commitments in the UKVFTA, the UK's green and fair trade policy to meet the requirements of sustainable development and climate change adaptation.

Ways to transition to a green and sustainable trade, standards and notes on “green criteria” for exports to the UK market, as well as cooperation opportunities in renewable energy between the two countries were also put on table.

In 2022, two-way trade between Vietnam and the UK increased 3.3% year-on-year, with many key export products of Vietnam posting high growth.

In terms of investment, the UK has so far run 507 projects worth nearly 4.2 billion USD in Vietnam. In 2022 alone, there were 53 newly registered projects with a registered capital of 134.66 million USD by UK firms.

The European nation is now the 15th largest investor out of 141 countries and territories investing in Vietnam, mainly focusing on renewable energy, finance, banking, and oil exploitation.

Source: VNA

See more news

Tra fish exports hold promise after China reopens borders

07:00 | 20/03/2023 Infographic

Tra fish exports are expected to recover shortly with China gradually reopening its borders.

Quang Tri organic rice makes EU debut

06:00 | 15/03/2023 Major exports

(VEN) - The north central coastal province of Quang Tri has been licensed to export organic rice to the EU market, marking a turning point for the provincial agricultural sector.

China's reopening good news for Vietnamese exporters

06:00 | 13/03/2023 Foreign trade

Deputy Minister of Agriculture and Rural Development Trần Thanh Nam said China's dismantling of its COVID-19 lockdowns had given a big push to bilateral trade, with Vietnamese exports to China in February rising by 33 per cent month-on-month.

Vietnamese businesses attend Foodex Japan 2023

06:00 | 13/03/2023 Foreign trade

Thirty-six Vietnamese businesses are showcasing their products at the 48th international food and beverage exhibition (Foodex Japan 2023), which kicked off in Tokyo, Japan, on March 7.

Potential of Vietnamese farm produce valued in Italy

07:00 | 10/03/2023 Foreign trade

Renzo Piraccini, President of Cesena Fiera, has wished that Vietnam will join the Macfruit 2023 – a fruit and veg professional show in the Italian city of Rimini from May 3-5, on the occasion of the 50th anniversary of bilateral diplomatic ties to introduce its popular tropical farm produce such as dragon fruit, lychee and ginger.

Fresh produce exports set to grow

06:00 | 10/03/2023 Major exports

(VEN) - The Vietnamese fruit and vegetable sector poised for promising year as exports rose 3.1 percent in January 2023.

Cao Phong orange hits the shelves in UK

07:00 | 08/03/2023 Major exports

The Cao Phong orange from the northern province of Hoa Binh is now officially put up for sale in the UK, marking the return of this specialty to the global market after over 40 years.

Trade deal with UK bolsters Vietnamese exports

06:00 | 08/03/2023 Foreign trade

(VEN) - The United Kingdom is the world’s fourth largest importer, but Vietnam’s share accounts for less than one percent of its total import value, signaling ample room for increased Vietnamese exports to this market.

Apple develops production facilities in Viet Nam: Bloomberg

16:46 | 06/03/2023 FDI

AirPods maker GoerTek Inc. is investing an initial US$280 million in a new Viet Nam plant, Deputy Chairman Kazuyoshi Yoshinaga said in an interview with Bloomberg.

Vietnam enjoys trade surplus of over 2.8 billion USD in first two months

09:25 | 06/03/2023 Infographic

Total import-export revenue in the first two months of this year was estimated at 96.06 billion USD, down 13.2% year-on-year, with Vietnam posting a trade surplus of 2.82 billion USD, the General Statistics Office (GSO) has reported.

Latest Most Read

Asian investors increasingly keen on Vietnam

13:00 | 26/03/2023 FDI

(VEN) - Vietnam is considered a promising destination for investment from Asia, as evidenced by the increasing operations of multinational corporations.

Bac Kan produce takes off

10:00 | 26/03/2023 Industry promotion

(VEN) - Efficient trade promotion has helped agricultural and unique products of the northern province of Bac Kan reach foreign markets, including the Czech Republic and Japan, among others.

Stock market violations to face stricter sanctions

07:10 | 26/03/2023 Stock Market

The State Securities Commission (SSC) will review the Law on Securities and related decrees to complete the legal framework, and strengthen sanctions for violations to protect the legitimate rights and interests of investors.

Let’s go fly a kite

06:00 | 26/03/2023 Lifestyle

(VEN) - The annual kite flying festival of Ba Duong Noi Village in Hanoi’s suburban district of Dan Phuong is held on the 15th day of the third lunar month.

Vietnamese noodles clear EU safety hurdle

15:09 | 25/03/2023 Foreign trade

Xoan singing in Phu Tho Province

06:00 | 12/03/2023 Lifestyle

(VEN) - Xoan singing is an ancient art performed during the first two months of the lunar year and designated by the United Nations Educational, Scientific and Cultural Organization (UNESCO) as a valuable intangible cultural heritage of the northern Vietnamese province of Phu Tho. It is based on the Vietnamese practice of ancestor worship and dates back to the period of the 18 Hung kings who ruled northern Vietnam from 2879-258 BCE. However, some music researchers believe that Xoan singing emerged much later, during the Later Le Dynasty (1428-1789 AD), as the lyrics bear literary forms and styles of the period.

Son La Dam’s powerful tourism potential

06:00 | 11/03/2023 Tourism

(VEN) - The area of the Son La hydropower reservoir, with its cultural features of the Thai, Tay and La Hu ethnic groups, is being awakened by tourism development to benefit local residents.

Ministry betters business environment

13:00 | 11/03/2023 Economy

(VEN) - The Ministry of Industry and Trade (MoIT) has implemented government resolutions on improving the business environment and enhancing national competitiveness.

Hanoi economy presents mixed picture

13:00 | 12/03/2023 Metropolis

(VEN) - Hanoi’s total retail sales of goods and services increased 18 percent in January compared with the same period last year. The capital has also identified 22 targets for socioeconomic development in 2023.

Efforts urged to find best technology for Vietnam

06:00 | 12/03/2023 Science - Technology

Minister of Planning and Investment Nguyen Chi Dung has called on the Vietnam-Germany Innovation Network (VGI) to further support the National Innovation Centre of Vietnam in developing strategies as well as finding the best and most suitable technologies for Vietnam.

Multimedia

Video Longform Infographic Photo

Ha Long Bay, Cu Chi Tunnels among ten adventurous tourism places in Southeast Asia

07:00 | 25/03/2023 Infographic

The travel magazine The Travel has listed Ha Long Bay in the northern coastal province of Quang Ninh and Cu Chi Tunnels in Ho Chi Minh City among the ten must-visit epic and adventurous places in Southeast Asia.

Vietnam-Italy trade partnership

13:00 | 23/03/2023 Infographic

Two-way trade turnover between Vietnam and Italy has doubled since 2010. Vietnam is Italy’s largest trading partner in ASEAN, while Italy is Vietnam’s fourth largest trading partner in the EU.

Renowned Vietnamese artists collaborate on unique porcelain artworks

06:00 | 23/03/2023 Lifestyle

Titled "Hoa Trên Hoa Kết Tinh" (Flowers on Crystallised Flowers), the exhibition will showcase 13 crystallised porcelain items created by Lê Ngọc Thạch, a famed artisan from Bát Tràng, and painted by the internationally-acclaimed overseas Vietnamese artist Hồng Đức Thanh.

Vietnamese culture and silk are topics of event dedicated to women

06:00 | 25/03/2023 Lifestyle

More than 100 female diplomats, representatives of international organisations in Hà Nội, and spouses of foreign ambassadors in Việt Nam gathered at the event.

The first Vietnamese bread festival

06:00 | 25/03/2023 Entertainment

(VEN) - The first Vietnamese bread or “banh mi” festival will take place in Ho Chi Minh City from March 30 to April 2.

Policy

New legal documents in first half of March 2023

06:00 | 23/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Animal feed industry asks for import tax reduction on raw materials

09:55 | 20/03/2023 Policy

The Government has received a proposal from the Vietnam Feed Association to eliminate the import tax on soybean meal, currently set at 2%.

Over 250 petitions submitted to authorities on fragility of petroleum regulations

18:07 | 16/03/2023 Policy

The petitions concern the alteration of petroleum business restrictions in decrees No.83/2014/ND-CP and No.95/2021/NQ-CP, resulting in losses for retail establishments.

New legal documents in second half of February 2023

07:00 | 12/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Industry & Trade

Bac Kan produce takes off

10:00 | 26/03/2023 Industry promotion

(VEN) - Efficient trade promotion has helped agricultural and unique products of the northern province of Bac Kan reach foreign markets, including the Czech Republic and Japan, among others.

Bac Giang develops rural industrial exports

07:00 | 25/03/2023 Industry promotion

(VEN) - The northern province of Bac Giang has become an industrial development center in recent years, with industry making a growing contribution to the provincial gross regional domestic product (GRDP). However, many rural industrial establishments in Bac Giang remain small-scaled and lack investment capital, equipment, machinery and technology, limiting production capacity, product quality, competitiveness, and domestic and foreign market expansion.

Ocean dialogue dicusses offshore renewable energy potential

09:53 | 24/03/2023 Energy

Offshore renewable energy was the centre of discussion at the 10th Ocean Dialogue in the central province of Khanh Hoa on March 23.

Vietnam Manufacturing Expo & NEPCON Vietnam exhibition 2023 kick off

16:41 | 22/03/2023 Support industries

Reed Tradex Vietnam, the ASEAN's leading exhibition organizer announced the kick-start of Vietnam Manufacturing Expo (VME) & NEPCON Vietnam exhibition 2023.

Investment

Asian investors increasingly keen on Vietnam

13:00 | 26/03/2023 FDI

(VEN) - Vietnam is considered a promising destination for investment from Asia, as evidenced by the increasing operations of multinational corporations.

India introduces pharmaceutical industry' opportunities to potential Vietnamese investors

19:54 | 23/03/2023 Vietnam and other regions

Invest India, the National Investment Promotion & Facilitation Agency, had networking hybrid meet in Ho Chi Minh City, introducing investment opportunities in Indian pharmaceutical industry to potential Vietnamese investors.

Vietnam attracts Czech investors

06:00 | 23/03/2023 FDI

(VEN) - A delegation of top Czech companies, led by Czech Minister of Industry and Trade Jozef Síkela, visited Vietnam in February to explore investment and business opportunities.

US businesses exploring investment, business opportunities in Vietnam

10:01 | 21/03/2023 FDI

Representatives of more than 50 US companies will visit Vietnam from March 21-22 to discuss investment and business opportunities under an annual programme hosted by the US-ASEAN Business Council.

Finance-Banking

Stock market violations to face stricter sanctions

07:10 | 26/03/2023 Stock Market

Vietnam to develop policies to adapt to global minimum tax

07:05 | 23/03/2023 Finance-Banking

Vietnam will adjust investment policies to adapt to the global minimum tax rate and remain an attractive destination for investment.

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

(VEN) - All European Union states and many other countries will introduce a global minimum tax (GMT) of 15 percent on large corporations by the start of 2024, and Vietnam is being urged to devise appropriate policies and adapt to the new taxation.

Vietnam’s regulatory interest rates to be reduced by 0.5-1 percent

07:05 | 16/03/2023 Finance-Banking

The State Bank of Vietnam (SBV) on March 14 issued two decisions to reduce regulatory interest rates by 0.5% to 1%, which will come into force on March 15.

Environment

The value of wood scraps for business

13:00 | 25/03/2023 Environment

(VEN) - Reusing scraps derived from most stages of wood exploitation and processing will increase business profits by two to three percent.

New river trash capture tool launched in Nam Dinh Province

15:00 | 23/03/2023 Environment

On March 23, the Center for Marinelife Conservation and Community Development (MCD) cooperated with the Department of Natural Resources and Environment (DONRE) of Nam Dinh Province, the People's Committee of Nam Thang Commune, and other local partners to organize the event “Launching river trash capture tool” at Village 4 in Xuan Thanh Commune of Nam Dinh Province’s Xuan Truong District.

Việt Nam carries out measures for healthy forests

10:30 | 22/03/2023 Environment

At a forum on the International Day of the Forest yesterday in Hà Nội, Phạm Hồng Lượng, chief of office of the General Department of Forestry, stressed the importance of raising awareness about the role of forests in human life to work together in forest protection and sustainable forest exploitation.

COP28 President-Designate to co-chair Copenhagen climate ministerial meeting

09:46 | 22/03/2023 Environment

Dr. Sultan Al Jaber, COP28 President-Designate, will visit Copenhagen to co-chair the Copenhagen Climate Ministerial with His Excellency Sameh Shoukry, Minister of Foreign Affairs, COP27 President and Foreign Minister of the Arab Republic of Egypt.

Science - Technology

Vietnam, Thailand beef up sci-tech, educational collaboration

06:00 | 25/03/2023 Science - Technology

Thailand will further promote sci-tech and education cooperation with Vietnam, including a plan to teach Vietnamese at some local universities, affirmed Minister of Higher Education, Science, Research and Innovation (MHESI) Anek Laothamatas in a working session with Vietnamese Ambassador Phan Chi Thanh in Bangkok on March 20.

Science, technology, innovation promoted to support national development

06:00 | 22/03/2023 Science - Technology

Various measures will be rolled out from now to 2025 to fine tune science and technology organisations and perfect the legal foundation for state management of science, technology and innovation.

Vietnam introduces automated sorting system

13:00 | 20/03/2023 Make in Vietnam

(VEN) - The successful design, manufacturing and operation of an automatic goods sorting system has contributed to optimizing the production process and cutting the costs of logistics enterprises. Vietnam Economic News’ Quynh Nga interviewed Dr. Phan Dang Phong, Director of the National Research Institute of Mechanical Engineering (NARIME) under the Ministry of Industry and Trade (MoIT), about this technology.

Domestic ICT firms well-positioned to reach out to the world

06:00 | 20/03/2023 Science - Technology

Vietnam's information and communication technology (ICT) companies are well-positioned to make strong breakthroughs and reach out to the world in the near future, on the back of widespread Internet access, abundant workforce and support from authorities at all levels.

Society

Agriculture sector to use AI to maximise production

10:42 | 24/03/2023 Society

Despite being a relatively new concept in the country, the adoption of AI in Việt Nam's agriculture industry has gained significant interest from both the government and manufacturing firms due to its numerous advantages over traditional agricultural methods.

Việt Nam strives to eliminate malaria once and for all

09:16 | 23/03/2023 Society

The Ministry of Health has announced plans to review, amend, and supplement professional guidelines to ensure nationwide implementation and assess the National Strategy for Malaria Prevention, Control, and Elimination by 2020 with a view towards 2030.

Transport infrastructure fund needed to enhance Southeast regional linkages

Workshop discusses UK’s green and fair trade with Vietnam

See also

See more news

Multimedia