U.K. Calls on Vietnam to Open Telecom, Retailing, Pharmacy Sectors

U.K. Minister for Trade and Investment Gareth Thomas on Jan 20's morning had a meeting with Vietnamese Prime Minister Nguyen Tan Dung, appealing to Vietnam to sign contents of cooperation agreements and finalize commitments in opening telecom, retailing and pharmacy sectors for foreign investments.

 

The U.K. attaches importance to beefing up cooperation with Asia, Asean countries, particularly Vietnam, Minister Gareth Thomas noted, adding that U.K. firms are interested in aviation, maritime, industrial equipment...

 

In return, PM Dung briefed about achievements in two years of WTO accession, the government is working actively on tax policies in line with international standards, improving business climate for foreign investors.

 

Mr Dung proposed that the U.K. soon recognize Vietnam's market economy. Vietnam will finalize commitments of five sectors signed with the U.K. government during his recent visit to the U.K.

 

Vietnam and the U.K. have just signed a trade promotion deal.

 

Under WTO commitments, Vietnam will open up its distribution market for foreign partners, allowing them to set up wholly foreign-invested companies from 2009. From January 1 of 2010, Vietnam will allow foreign companies to distribute liquors, cement, clinker, fertilizer, steel, iron, paper, vehicle tyres and audiovisual equipment.

 

Last year, bilateral trade between Vietnam and the U.K. rose 16.2 per cent to US$1.76 billlion. (chinhphu.vn)