13th session of the Joint Committee on Economic and Trade Cooperation between Vietnam and the United Kingdom (JETCO 13)

24/08/2023

On August 24, 2023, in Hanoi, under the chairmanship of Deputy Minister of Industry and Trade Phan Thi Thang and Secretary of State for the UK Ministry of Business and Commerce Nigel Huddleston, the Ministry of Industry and Trade coordinated with the Ministries, Industry and the British Embassy in Hanoi jointly organized the 13th Meeting of the Joint Committee on Economic and Trade Cooperation between Vietnam and the United Kingdom (JETCO13).

Attending the meeting, on the Vietnamese side, there were representatives from the Government Office, Ministries: Industry and Trade, Foreign Affairs, Public Security, Education and Training, Labor, War Invalids and Social Affairs, Agriculture and Development rural areas, Finance, Health, Transportation; Natural resources and environment, Construction; State Bank of Vietnam and State Securities Commission.

Speaking at the Meeting, Deputy Minister Phan Thi Thang affirmed that through the 12 previous meetings, the mechanism on the Vietnam - UK Joint Committee on Economic and Trade Cooperation has had sustainable development steps, contributing to resolving policy problems and building a more favorable business environment for businesses of the two countries.

Reviewing the successes on the occasion of the 50th anniversary of diplomatic relations between the two countries in 2023, Deputy Minister Phan Thi Thang said that the bilateral cooperation relationship between the two countries has been witnessing outstanding developments, experiencing covering many important economic sectors. Regarding trade, the two countries have had the UKVFTA Agreement in effect for more than 2 years and most recently the CPTPP Agreement when the UK became the 12th member of this Agreement. Regarding energy, with the strong promotion and support of the UK after COP26 chaired by the UK, Vietnam has made a commitment to net zero emissions by 2050 along with a strong roadmap and orientation. strong to achieve this goal. More specifically, Vietnam then received support from the UK and other countries with the Fair Energy Transition Partnership Program (JETP). Other economic fields such as finance - banking, health care, education and training... are closely coordinated by ministries, branches and agencies of the two countries, jointly implementing effective cooperation programs, bringing Sustainable results for both sides.

- Regarding the energy sector, Vietnam has shared with the UK information on the implementation of Power Plan 8, as well as some guidance on the direct electricity trading mechanism between solar power generators. renewable energy and large electricity customers (DPPA mechanism). The Vietnamese side also thanked the UK for supporting Vietnam in the JETP Fair Energy Transition mechanism, and requested the UK side to increase support for Vietnam's energy transition process, improving management capacity. Management and operation of electricity systems, electricity markets...

- Regarding the health sector, Vietnam responded to the UK side with information about the situation of the revised Pharmaceutical Law that the UK side is interested in, and requested the UK to cooperate in scientific research and transfer activities. technology, drug and vaccine production, and increased academic exchange between the two countries. The British side expressed its willingness to cooperate with Vietnam and mentioned the ASEAN Health Program and the Health Innovation Center Program in the City. Ho Chi Minh and the British side plan to deploy it.

- Regarding the fields of agriculture, food and beverages, the UK side has expressed much interest in Vietnam's guidance and support for market opening registration for poultry, beef, and seafood products. British products to Vietnam. Meanwhile, the Vietnamese side wants the UK to support its capacity in research on infectious diseases transmitted from animals to humans, as well as transfer technology of new vaccines to the Vietnamese people to strengthen their immunity. resistance to new pathogenic viruses..

- Regarding the field of Finance and Banking, the two Parties are especially interested in the field of Fintech (financial technology) and hope that there will be many opportunities to cooperate on capacity building in the near future.

- Regarding bilateral trade and investment, the Vietnamese side once again welcomed the UK to become a member of the CPTPP Agreement, and proposed that the UK side have technical assistance programs to improve efficiency. Effectively taking advantage of bilateral and multilateral commitments of the two sides, supporting investment and trade promotion, periodically organizing activities to connect businesses of the two countries, creating favorable conditions for businesses of both sides to participate. each other's markets and cooperate in the field of market management.

- In particular, the two sides agreed to promote exchanges on cooperative development in the field of tourism, which has great potential from both sides. The development of tourism between the two countries will also support trade and investment growth, and cooperation in education and training between the two countries.

Speaking at the end of the meeting, Minister of State Nigel Huddleston thanked Vietnam for the thoughtful welcome and affirmed that the issues discussed at JETCO 13 would be continued to be implemented by the technical level of both sides. The two sides agreed to coordinate closely and strive to thoroughly and effectively resolve the issues discussed at this Meeting, contributing to pushing the relationship between the two countries to new heights./.

 

Minh Toan
 

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