Vietnam, UK should sign FTA asap: Government leader

Update: 14:48 | 12/12/2020

Vietnam and the UK should sign a bilateral free trade agreement (FTA) as soon as possible to further boost two-way trade, Prime Minister Nguyen Xuan Phuc said when hosting UK Secretary of State for International Trade Elizabeth Truss in Hanoi on December 11.

Appreciating the significance of Truss’s visit, the PM said it will be a good chance for both sides to seek new measures to enhance relations, as the potential for bilateral cooperation remains substantial.

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Prime Minister Nguyen Xuan Phuc and UK Secretary of State for International Trade Elizabeth Truss.

Vietnam considers the UK an important and friendly partner and supports it participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), he said.

He affirmed that the Vietnamese Government pledges to create the best conditions possible for UK enterprises to successfully invest in the country.

The two countries hold potential in developing green energy, Phuc said, suggesting the UK assist Vietnam in this field.

Truss expressed her delight at signing an agreement on the completion of negotiations on the UK-Vietnam FTA, adding that this is a new start to beef up bilateral cooperation.

She affirmed her country’s determination to join hands with Vietnam in promoting trade liberalisation and economic recovery in the context of the Covid-19 pandemic.

The UK will host the 26th UN Climate Change Conference (COP26) next year with the goal of bringing gas emissions down to zero by 2050. It hopes to join hands with other countries, including Vietnam, to contribute to this goal, she said.

The UK wants to cooperate with Vietnam in health, green technology, finance, digital economy and data, she added.

For COP26, PM Phuc committed that Vietnam will participate in the conference actively and responsively and contribute more to global climate change response efforts.

He also spoke highly of the UK’s stance of ensuring navigation and aviation security, safety and freedom in the East Sea (South China Sea).

Strong breakthroughs from EVFTA
According to the Ministry of Industry and Trade, since the Vietnam – European Free Trade Agreement (EVFTA) took effect, authorised organisations have granted nearly 15,000 sets of certificates of origin (C/O) of the EUR.1 form with a total turnover of nearly US$700 million to 28 EU countries.
Vietnam enjoys US$3.78 billion in exports to EU since bilateral FTA taking effect
Vietnam enjoyed exports worth US$3.78 billion to the European Union (EU) in only one month since the EU - Vietnam Free Trade Agreement (EVFTA) took effect at the beginning of August.
Bac Giang launches plan to implement EVFTA
(BGO) - The provincial People’s Committee of Bac Giang province promulgated the Plan No 263/KH-UBND dated 15 September 2020 on implementation of EU - Vietnam Free Trade Agreement (EVFTA). 
Ben Tre exports first batch of fruit to EU under EVFTA
The first batch of fruit from Ben Tre sent to the European Union (EU) with a zero tax rate under the EU-Vietnam Free Trade Agreement (EVFTA) was announced on Thursday (Sep 17).

Source: NDO /VNA

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