Politics

PM: Vietnam backs negotiations on future Vietnam-UK FTA

Vietnam backs the proposal to negotiate a Vietnam- United Kingdom Free Trade Agreement, Prime Minister Nguyen Xuan Phuc said while receiving UK Ambassador to Vietnam Gareth Ward in Hanoi on October 26.
PM: Vietnam backs negotiations on future Vietnam-UK FTA ảnh 1Prime Minister Nguyen Xuan Phuc (R) and UK Ambassador to Vietnam Gareth Ward (Photo: VNA)

Hanoi (VNA) - Vietnambacks the proposal to negotiate a Vietnam- United Kingdom Free Trade Agreement,Prime Minister Nguyen Xuan Phuc said while receiving UK Ambassador to VietnamGareth Ward in Hanoi on October 26.

The two sides shouldcontinue technical discussions to define the framework and issues need to benegotiated, thereby creating favourable conditions for the later negotiationprocess, he said.

Highlighting the importanceof Ward’s role in the Vietnam-UK strategic partnership, PM Phuc said heexpected the British ambassador will help double the bilateral trade turnover duringhis tenure.

According to the governmentleader, bilateral trade exceeded 6 billion USD last year, up 11 percent from2016. The UK has invested 3.71 billion USD in Vietnam, ranking 15th out of 129 countries and territories investing in the country.

PM Phuc said that incelebration of the 45th founding anniversary of diplomaticrelations, Deputy PM and Foreign Minister Pham Binh Minh paid an official visitto the UK and he himself met with his British counterpart Theresa May on thesideline of the 12th Asia-Europe Meeting (ASEM) Summit in Belgium earlier thismonth.

The PM also voiced his hopethat the UK will help Vietnam access capital from the Commonwealth Fund,particularly for improving the business climate, coping with climate change,and developing infrastructure projects. 

For his part, the UKambassador said Vietnam’s improvements in the business climate have impressed Britishenterprises.

He pledged to make effortsthroughout his tenure to boost bilateral trade as well as collaboration inother sectors such as education-training, culture, health, and defence.

Affirming his support forfree trade, Ward said the UK backs the EU-Vietnam Free Trade Agreement (EVFTA) andwill help accelerate its early signing and ratification.

Regarding the East Seaissue, the diplomat affirmed that he supports the supremacy of law, as well asfreedom, security and safety of navigation and overflight.-VNA
VNA
#Vietnam-UK FTA #Prime Minister Nguyen Xuan Phuc #UK Ambassador to Vietnam Gareth Ward #Vietnam-UK strategic partnership #Vietnam UK #Commonwealth Fund #EU-Vietnam Free Trade Agreement #Vietnam News Agency #vietnamplus
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