U.K. Calls on Vietnam to Open Retail, Telecom, Insurance Markets
The United Kingdom (U.K.) is calling on Vietnam to open its retail, insurance and telecom markets, paying the way for more British investors to enter the country, state media reported recently, citing Andrew Cahn, Chief Executive of the U.K. Trade & Investment (UKTI).
The chief executive made the appeal at the third meeting of the Vietnam-U.K. Joint Economic and Trade Committee (JETCO) in Hanoi between Oct 5-6, which discussed measures to remove trade barriers.
The U.K. is striving to become the EU’s largest investor in Vietnam in the next years, Andrew Cahn noted.
He hoped that Vietnamese businesses will export products to and invest in the U.K.
During a meeting between Prime Minister Nguyen Tan Dung and British Prince Andrew, Vietnam and the U.K. agreed to increase bilateral trade to US$3 billion over the next years from US$1.9 billion in 2008.
The U.K. also committed to boost its investment to Vietnam to US$3 billion in the coming years from the current US$2.1 billion.
At present, the U.K. is one of Vietnam’s important trade partners from the EU and is among Vietnam’s top ten export markets.
It is also the third largest EU investor in Vietnam with 115 projects totaling US$2.1 billion. (VietnamNet)
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