Vietnam-UK determined to promote trade

LONDON (VNS) – A major conference on trade, investment and business opportunities in Viet Nam has been held in Kent to inform British businesses of the potential in the Vietnamese market.

The event was held on November 9, 2012 by a number of interested parties, one day after the sixth session of the UK-Viet Nam Joint Economic and Trade Committee (JETCO) concluded in London.

Vietnamese senior government officials, trade officials, diplomats and a CEO were speakers at the conference, which gave businesses representatives more details about Viet Nam's emerging market.

Former UK Ambassador to Viet Nam and Acting chairman of Locate in Kent, Warwick Morris, told the conference that he enjoyed working in Viet Nam for three years (2000-2003) at a time when its economy was just starting to take off. Viet Nam experienced nearly a decade of high economic growth - around 6.5 per cent a year. He said it had brought tremendous changes for Viet Nam, a country that had suffered a long period of hardship since reunification in 1976.

Deputy Minister for Trade and Industry Ho Thi Kim Thoa, who was co-chaired the JETCO 6, told the participants that since 2010, the two-way trade volume between Britian and Viet Nam achieved an average increase of 20 per cent a year and topped US$3 billion in 2011.

Deputy Director for Trade and Investment of UKTI in Viet Nam, Piers Craven, said UK exports to Viet Nam have increased remarkably in the last couple of years. Next year will be an important landmark for the two countries as they celebrate 40 years of diplomatic ties.

Craven also explained the reason why Viet Nam offers potential for UK firms. He said the South east Asian country is among the highest growth markets in the world and is also the 13th most populous country. Its population is young and increasingly well educated; contributing to the dynamic and committed Vietnamese workforce. Viet Nam also offers a strategical geographical advantage in Asia, Craven added.

In previous months, similar events were held by the UK Trade and Investment (UKTI) in Manchester; the London Chamber of Commerce and Industry and a number of trade missions, including one led by the Lord Mayor of the City of London in September, when he visited Viet Nam to study the market.

Source: VNS