Participants at the 13th meeting of the Joint Committee on Economic and Trade Cooperation between Vietnam and the UK (JETCO 13) (Photo: VNA) Hanoi (VNA) – Vietnamese DeputyMinister of Industry and Trade Phan Thi Thang and British Minister of State forInternational Trade Nigel Huddleston co-chaired the 13th meeting ofthe Joint Committee on Economic and Trade Cooperation between Vietnam and theUK (JETCO 13) on August 24 in Hanoi.
Minister Thang said the cooperation mechanism of the joint committee hasrecorded sustainable development, contributing to resolving policyobstacles, and buildinga more favourable business environment for enterprises of both sides.
The bilateral cooperative relationship between thetwo countries has witnessed remarkable leaps across economic sectors, she stressed.
Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang (Photo: VNA) During the meeting, both sides frankly discussed the fields ofenergy, healthcare, finance - banking, trade and investment and tourism.
Vietnam updated the UK side on the implementation of theNational PowerDevelopment Plan VIII, as well as details about the direct powerpurchaseagreement (DPPA) mechanism between renewable energy generators and bigelectricityconsumers. The Vietnamese side thanked the UK for its support in theJust Energy Transition Partnership (JETP) mechanism, and proposed theUK further support Vietnam's energy transition process, and help Vietnamimproveits capacity in managing and operating the power system, and developingtheelectricity market.
Regarding healthcare partnerships, Vietnam provided the UK withinformationregarding the amended Pharmacy Law, a topic that the UK is interest in.Vietnam also proposedthe UK cooperate in scientific research, technology transfer, medicineand vaccine production, and enhance academic exchange between the twocountries.
The UK side expressed its willingness to cooperate with Vietnam inhealthcare, while mentioning the ASEAN health programme and the healthinnovationcentre in Ho Chi Minh City which the UK plans to implement.
For agriculture, food, and beverage, the UK showedinterest in Vietnam's guidance and support for market openingregistration for the UK's poultry, beef, and seafood products inVietnam. Meanwhile, Vietnam hoped that the UK wouldsupport Vietnam in improving the capacity for research on infectiousdiseasesfrom animals to humans, as well as in technology transfer for producingnewvaccines against new viruses.
Bothsides shared their special interest in Fintech, expressing their hope for more cooperationopportunities in building capacity in this area in the near future.
Regardingbilateral trade and investment, Vietnam welcomed the UK’s membershipin the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), and proposed the UK provide relevant technical assistance programmes for Vietnam.
Notably, the two sides agreed to promote discussion on tourism cooperation,saying that the tourism development between the two countries will help promotebilateral trade, investment and education-training collaboration.
Huddleston affirmed the matters discussedat JETCO 13 will be further implemented through technical cooperationprogrammes between the two nations, towards lifting the bilateral relations to anew height./.
