VN, UK boost economic, trade ties

15:56 | 03/03/2015

VGP – The Viet Nam-UK Joint Economic and Trade Commission (JETCO) convened its eighth session in London on March 2 to seek solutions to promote economic and trade ties between the two nations.

The session was chaired by Viet Nam’s Deputy Minister of Industry and Trade, Ho Thi Kim Thoa and the UK Minister of State at the Foreign and Commonwealth Office, Hugo Swire.

Addressing the session, the UK Minister affirmed that Viet Nam and the UK have a great potential to develop the time-honoured relationship. The UK is one of countries which have voiced their strong support for Viet Nam-EU Free Trade Agreement Negotiations.

The meeting presents an important opportunity to review the eight-year strategic partnership between the two countries, Swire said.

He expressed hope that the FTA will be signedin the near future, stressing that both sides will obtain advancements in priority fields of education, energy and financial infrastructure in the coming time.

For her part, Vietnamese Deputy Minister of Industry and Trade Ho Thi Kim Thoa spoke highly of the achieved targets set at the seventh meeting in 2014, including combating smuggling, strengthening education programmes, and building capacity in the judicial sector.

Viet Nam wished that the UK will co-ordinate to implement agreements to grant competency certificates to Vietnamese seafarers, she added.
 
The Deputy Minister suggested the two countries improve information exchange and communication on methods of goods delivery and storage to enhance cooperation in goods trading.

Viet Nam recorded a gross domestic product (GDP) growth of 5.98% and per capita GDP of US$2,000 in 2014. In terms of trade, and export value has increased more than 20 folds over the past 20 years.
 
In 2014, Viet Nam’s import-export turnover reached over US$298 billion, with export value posting at US$150 billion.

                                                                                                              By Vien Nhu