Vietnam, U.K. Fostering Economic, Trade Ties
Measures to enhance bilateral economic and trade ties between Vietnam and the U.K. were the main focus of a meeting of the Joint Economic and Trade Committee of Vietnam and the UK (JETCO) held in London December 3, Vietnam News Agency reported.
Participants at the meeting discusses a wide range of fields such as the granting of Vietnamese entry visas to British trade representatives, financial transparency, taxation of the leasing and exploitation of mines, and import duties imposed on alcohol.
At the gathering, the Vietnamese delegation, led by Deputy Minister of Industry and Trade Le Danh Vinh, reported the latest information about Vietnam’s implementation of its WTO commitments to the host’s officials.
Chief Executive of the U.K. Trade and Investment (UKTI) Andrew Cahn hoped that the two countries will closely coordinate to remove trade barriers.
Vietnam is now considered the world’s most attractive emerging market by business leaders, and suffers the least from the effects of the current global financial crisis, said a recent report by the UKTI.
Set up in September 2007, JETCO was aimed to promote trade and create a favorable business environment for both Vietnamese and British businesses.
The UK is the biggest among EU donors to Vietnam and ranks third among European investors with US$1.4 billion in FDI.
It is one of Vietnam’s important trade partners from the EU and is among Vietnam’s top ten export markets. In 2007, bilateral trade stood at US$1.8 billion, including Vietnam's trade surplus of US$1.5 billion. (VNA)
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