UK’s Accession to CPTPP to Bolster Vietnam-UK Trade and Investment Cooperation
Hanoi, The Gulf Observer: The UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is set to provide new impetus for trade and investment cooperation between Vietnam and the UK, President To Lam stated during his meeting with Ambassador Iain Frew on Wednesday in Hanoi.
President Lam expressed satisfaction with the robust and comprehensive development of the Vietnam-UK strategic partnership, underscoring Vietnam’s commitment to enhancing bilateral relations. He highlighted the regular exchanges of high-level delegations and the effective implementation of cooperation mechanisms across various fields, including politics, diplomacy, economy, and national defence-security. The two nations have also closely coordinated and supported each other at multilateral forums and international organisations.
Trade and investment cooperation, a cornerstone of the bilateral relationship, has seen significant progress, largely attributed to the UK-Vietnam Free Trade Agreement, Lâm noted. He pledged that Vietnam, as the coordinator for ASEAN-UK relations, will work to further promote cooperation between the UK and the region.
Lâm suggested increasing delegation exchanges and meetings at all levels, enhancing defence-security cooperation, and facilitating trade and investment collaboration between enterprises from both countries. He called on the UK, as the coordinator for the Just Energy Transition Partnership (JETP) between Vietnam and the Group of Seven (G7), to continue supporting Vietnam in accessing financial resources, technology transfer, and human resource development to achieve its goal of carbon neutrality by 2050.
The President also emphasized the strong cooperation between the two countries in education and training, expressing hope for continued diverse cooperation activities in culture, tourism, and sports to foster mutual understanding and promote overall friendship and collaboration.
Ambassador Frew affirmed that the UK’s new government will maintain its focus on the Indo-Pacific region, prioritizing relations with ASEAN and the strategic partnership with Vietnam. He expressed admiration for Vietnam’s socio-economic achievements and its role in the region and the world, voicing confidence in the cooperation potential between the two countries.
The UK will continue to support Vietnam in sustainable development, particularly in education, finance, and energy transition, which are areas of mutual priority and UK’s expertise, the ambassador stated. He also emphasized the UK’s commitment to close cooperation with Vietnam in addressing common challenges, especially climate change, and its readiness to share experiences within the JETP framework.
Frew aligned with Vietnam’s views on resolving regional and international issues based on respect for international law, the principles of the United Nations Charter, and the 1982 UN Convention on the Law of the Sea (1982 UNCLOS). He expressed his hope for continued support and coordination from President Lâm and various Vietnamese ministries, agencies, and localities during his tenure.
