Vietnam and UK Strengthen Economic Ties with Multifaceted Partnership
Prior to the 5-day visit, UK International Trade Minister Nigel Huddleston spoke about the significant contribution of the Vietnam-UK trade partnership to the diplomatic relations between the two countries over the last 50 years. The trade relationship between the UK and Vietnam has continued to strengthen, with the total trade volume reaching £6.9 billion in 2022. This represents a 29% increase from 2021 and nearly double the figure from 2013. Minister Huddleston expressed his eagerness to meet with his counterparts in Vietnam to explore new opportunities and support UK businesses in accessing the dynamic Vietnamese market. The UK currently has 536 direct investment projects in Vietnam, with a total registered capital of US $4.28 billion. This makes the UK the 15th largest foreign investor in the country. In the first seven months of this year, bilateral trade between Vietnam and the UK reached US $3.95 billion, a 0.5% increase compared to the same period last year. Vietnam’s im...