Measures sought to boost Vietnam- UK multifaceted cooperation

Participants at the workshop (Photo: VNA)

A workshop themed “The past, present and future of international business relations: A case of Vietnam - the UK” was hosted by the Vietnamese Embassy in the UK in collaboration with London South Bank University (LSBU), on April 27.

The event was held within the Vietnam Day in the UK from March 28 - April 27 to celebrate the 50th founding anniversary of the diplomatic ties between the two countries.

Participants focused their discussion on Vietnam’s economic development process; the role of the Vietnam-UK strategic partnership in promoting finance, business and investment in the Southeast Asian nation; and opportunities and potential cooperation areas for the two nations at present and in the future.

In his opening remarks, Prof. Patrick Callagan, vice dean of the LSBU, said that the workshop offers a good chance for students to improve their understanding about Vietnam and the Vietnam-UK strategic partnership, and also an opportunity for the university to expand relations with Vietnam.

Vietnam is a priority partner of LSBU in the fields of transnational education, student exchange, research, and knowledge transfer, he stressed.

Ambassador Nguyen Hoang Long gave participants an overview of Vietnam’s economic achievements and growth prospects, as well as potential for the two nations to boost bilateral relations.

He highlighted the fruitful development of the bilateral relations, noting that after establishing a strategic partnership in 2010, two-way trade has more than tripled, hitting 6.84 billion USD by 2022 despite the effects of the COVID-19 pandemic and globally economic uncertainties.

In addition to commerce, there is a large room for the two sides to expand cooperation in digital transformation, green growth, infrastructure, health and education-training.

With the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which is expected to become the world's largest trade bloc by 2050, the Vietnam-UK trade will grow stronger, Long said, adding that this brings a bright future for the bilateral trade.

Participants also touched upon areas with great potential for Vietnam and the UK to step up cooperation in the future, including energy transformation, digital transformation, health care, and education, agreeing that that these are the most potential areas for the two sides to consider deeper cooperation.

In the framework of the workshop, a photo exhibition highlighting the 50-year diplomatic ties between the two countries was organised./.