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Deputy-Minister of Industry and Trade Hoang Quoc Vuong (L) and UK Minister of State for Trade Policy Greg Hands sign a cooperation agreement. Photo: baocongthuong.com.vn

The event was co-hosted by UK Minister of State for Trade Policy, the Rt. Hon. Greg Hands and Vietnamese Deputy-Minister of Industry and Trade Hoang Quoc Vuong.

On this occasion, the two sides discussed issues of mutual concern, focusing on how to quickly remove trade barriers and popularize UK goods and services to the Vietnamese market. Both sides also took on measures to boost bilateral cooperation in the fields of intellectual property rights, culture and tourism, power and education, especially the collaboration between the two countries’ universities.

Speaking at the event, the UK Minister of State for Trade Policy said that following Brexit, the UK government hoped to bolster trade ties with fast-growing economies in Asia, including Vietnam. With an average growth rate of 7 percent annually, millions of Vietnamese people have escaped from poverty and their demand for high-quality goods from the UK has increased, he added. Therefore, the UK government raised their financial aid to UK enterprises, which want to export to Vietnam, up to £1.5 billion, he affirmed.

Translated by Trung Thanh