President Vo Van Thuong (R) receives Ambassador of the United Kingdom of Great Britain and Northern Ireland to Vietnam Iain Frew on April 28. (Photo: VNA) The two countries established their diplomatic ties onSeptember 11, 1973. Over the past years, the two sides have exchanged high-leveldelegations to promote the bilateral relationship in a practical and effective manner.In September 2010, they signed a Joint Statement on the establishment of theVietnam - UK Strategic Partnership.
At present, the UK is Vietnam’s third largest trading partnerin the European Union. According to the General Department of Vietnam Customs,in 2022, despite impacts of the COVID-19 pandemic, two-way trade saw ayear-on-year increase of 3% to 6.83 billion USD, of which Vietnam’s exports surpassed6 billion USD, up 5.2%, while its imports were 771 million USD, down 9.2%.
The two countries officially signed a free trade agreement (FTA)in December 29, 2020 on the principle of inheriting the FTA between Vietnam andthe EU with necessary adjustments to ensure compliance with the Vietnam-UKbilateral trade framework. The deal, which officially took effect on May 1,2021, has helped create a comprehensive, long-term and stable framework foreconomic and trade cooperation between the two nations.
Regarding bilateral investment, the UK ranks in the top 20countries with FDI in Vietnam. According to data from the Vietnamese Ministryof Planning and Investment, as of October 20, 2022, the UK had 494 valid investmentprojects in Vietnam with a total registered capital of nearly 4.2 billion USD,ranking 15th out of 140 countries and territories pouringcapital into the Southeast Asian nation.
Meanwhile, as of June 2022, Vietnam had 13 investmentprojects in the UK and added capital to three existing ones with a totalcapital of 13.9 million USD, ranking 39th out of 79 countries andterritories receiving Vietnam’s investments.
Over the past time, Vietnam and the UK have also promotedeffective cooperation in various fields. In terms of defence and security, thetwo sides have exchanged a lot of delegations, promoted cooperation in trainingand information sharing. The two defence ministries have raised their annualDefence Policy Dialogue to the Deputy Ministerial level; set up a working groupon defence collaboration; and boosted cooperation in various priority fields suchas the United Nations peacekeeping missions.
The two countries have also promoted cooperation andcoordination in the fight against organised transnational crime, terrorism,illegal migration and human trafficking; as well as in the implementation ofthe agreement on transfer of sentenced prisoners and the agreement on mutual legalassistance in criminal matters.
In terms of development cooperation, the UK is one of theleading donors of Vietnam. Although the UK stopped providing ODA for Vietnam from 2016, it has supported Vietnam through development funds such as theProsperity Fund and Newton Fund, and maintained its assistance in technologydevelopment, research and innovation, public governance, improvement of thebusiness environment, green growth, and renewable energy.
In the field of education and training, the UK has activelypromoted the participation of leading British educational institutions intraining linkages as well as cooperation in the construction and development ofhigher education institutions in Vietnam. At the Vietnam - UK Seminar on EducationalCooperation held on June 30, 2022 on the occasion of the official visit to theUK by Chairman of the National Assembly Vuong Dinh Hue, Vietnamese and Britishuniversities signed 10 cooperation agreements.
The UK has also participated in cooperation activities touse atomic energy for peaceful purposes, research, and innovation to promoteeconomic development and social security in Vietnam.
At present, there are around 110,000 Vietnamese people, including 12,000 students and postgraduates, living,studying and working in the UK.
President Vo Van Thuong’s upcoming working trip is one ofthe milestones contributing to the continued implementation of the 13thNational Party Congress’s foreign policy on comprehensive and extensiveinternational integration and the Party Central Committee Secretariat’s Directive25 on promoting and elevating multilateral external relations./.
VNA
