Vietnam National Assembly supports UK joining CPTPP

The National Assembly Chairman affirmed that the Vietnamese National Assembly supports the UK joining the CPTPP and relevant Vietnamese agencies are actively implementing the process to submit it to the National Assembly for ratification.

Chủ tịch Quốc hội Vương Đình Huệ tiếp Đại sứ Anh tại Việt Nam Iain Frew. (Nguồn: TTXVN)

National Assembly Chairman Vuong Dinh Hue received British Ambassador to Vietnam Iain Frew. (Source: VNA)

On the afternoon of January 24, at the National Assembly House, National Assembly Chairman Vuong Dinh Hue received British Ambassador to Vietnam Iain Frew.

The National Assembly Chairman highly appreciated Ambassador Iain Frew's positive contributions to promoting Vietnam-UK relations.

Expressing his joy at the positive development of Vietnam-UK relations, the National Assembly Chairman shared his good impressions of the very successful results of his official visit to the UK in 2022, and thanked the Ambassador for his efforts contributing to that common success.

Vietnam attaches great importance to strengthening the Strategic Partnership with the UK. The bilateral relationship has achieved positive developments recently, especially the Joint Statement on the occasion of the 10th anniversary of the establishment of the Strategic Partnership (2010-2020) with a vision towards elevating the relationship in the coming decade.

Ambassador Iain Frew thanked the National Assembly Chairman for taking the time to meet him; emphasizing that in the current volatile world situation, exchanging ideas to promote international cooperation is very important.

Congratulating the Vietnamese National Assembly on successfully holding its 5th Extraordinary Session with the passage of two important laws, the Land Law (amended) and the Law on Credit Institutions (amended), the Ambassador thanked the National Assembly Chairman for promoting international cooperation with the UK, especially the National Assembly's ratification of the Vietnam-UK Free Trade Agreement (UKVFTA).

Ambassador Iain Frew agreed with the National Assembly Chairman's opinion that 2023 marks the 50th anniversary of the establishment of diplomatic relations between the two countries with many delegation exchanges and commemorative activities that have contributed to strengthening strategic trust between the two sides. This is the most important foundation.

Along with that, the strategic partnership between the two countries has covered many issues and areas of cooperation such as: politics, diplomacy, economy, trade, sustainable development investment, security, defense, health, etc. The implementation of the UKVFTA has actually brought positive benefits to the two countries. Specifically, although global trade faced difficulties in 2023, the trade turnover between the two countries still increased.

Congratulating the UK on joining the CPTPP in 2023, the National Assembly Chairman said that Vietnam always supports the UK to soon become a member of the Agreement and is happy to contribute to these positive achievements. As the 5th largest economy in the world with a high level of development and a member of the G7 group, the UK becoming the first European country to join the CPTPP has strategic significance, helping to elevate the CPTPP from a regional Pacific framework to a large and inclusive agreement.

Along with the UKVFTA, the UK's accession to the CPTPP will create new momentum for bilateral relations between Vietnam and the UK, strengthen the cooperation framework for the development of trade and economic relations between the two countries, help Vietnamese and UK businesses diversify markets and participate more deeply in the global supply chain.

The National Assembly Chairman affirmed that the Vietnamese National Assembly supports the UK joining the CPTPP and that relevant Vietnamese agencies are actively implementing the process to submit it to the National Assembly for ratification.

The National Assembly Chairman said that the world economy and geopolitics are currently complicated, the Ambassador continues to contribute to strengthening the economic and trade relations between the two countries on the existing foundation, renewing the existing supply chain, establishing a new strategic supply chain with high added value. British businesses increase investment in Vietnam.

The National Assembly Chairman affirmed that the National Assembly and the Government of Vietnam always strive and take drastic actions to improve the investment and business environment for foreign investors in general, including British enterprises.

Vietnam highly appreciates the UK's potential and capabilities in the financial and monetary markets, and hopes to strengthen cooperation in this area; support and assist Vietnam in developing the financial and monetary markets, including the development of the International Financial Center in Ho Chi Minh City. Vietnam wishes to join the UK in solving global issues, including the digital transformation and equitable energy transition, especially in terms of financial resources, technology, and institutional building for equitable energy transition, and implementing the commitment made at COP 26 to achieve net zero emissions by 2050.

On this occasion, through the Ambassador, National Assembly Chairman Vuong Dinh Hue invited the Speaker of the House of Commons and the President of the British House of Lords to soon pay an official visit to Vietnam.

Ambassador Iain Frew said that the UK wants to promote cooperation between the two countries through the Party, National Assembly, and Government channels, including exchanges and cooperation between young parliamentarians of the two countries.

Recently, the Vietnamese National Assembly successfully organized the 9th Global Conference of Young Parliamentarians. Chairman of the IPU Young Parliamentarians Forum, UK MP Dan Carden participated and contributed to the overall success.

Emphasizing that the field of energy transition, especially equitable energy transition, is not only a challenge for Vietnam, the Ambassador said that the UK is pleased to participate in supporting Vietnam in this field, especially when Vietnam deploys the development of mechanisms and allocates financial resources to serve energy transition...

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