Vietnam-UK Relations Set for New Stage of Development

Strategic Insights -

Vietnam's General Secretary is set to visit the United Kingdom from October 28-30, marking a significant development in the bilateral relationship between the two countries. According to British scholar Kyril Whittaker, this visit will boost the friendship and cooperation between Vietnam and the UK, which has seen remarkable progress since the establishment of diplomatic ties in 1973. The two-way trade has surged nearly 31% to 9 billion GBP (over 12 billion USD) in 12 months, with Vietnam becoming the 34th largest trading partner of the European country.

Key Takeaways:

  • The upcoming visit by Vietnam's General Secretary will mark a new stage in the development of the bilateral relationship between Vietnam and the UK.
  • The visit will be the first by a Vietnamese Party General Secretary since 2013 and takes place at a time when the bilateral relationship is continuing to flourish.
  • Two-way trade has reached 9 billion GBP (over 12 billion USD) in 12 months, surging nearly 31% compared to the same time last year.
  • Vietnam is currently the 34th largest trading partner of the UK and trade revenue could exceed the 10 billion GBP milestone soon.
  • Cultural and educational cooperation has seen remarkable progress, with the UK regularly hosting events showcasing Vietnamese culture, cuisine, and beauty.
  • The UK has introduced British culture to Vietnam through English language teaching, sports, and cuisine.
  • Party General Secretary Nguyen Phu Trong's trip to the UK in 2013 impressed the UK with Vietnam's 6% annual economic growth and positive business climate for UK enterprises.
  • Vietnam's new era, driven by the nation's rise, will open up multiple cooperation opportunities for both sides, especially in infrastructure projects.
  • The UK and Vietnam could share expertise and experience in renewable energy and nuclear power, with the UK investing heavily in renewable energy andVietnam advancing its nuclear power capabilities.

Statistics:

  • Two-way trade between Vietnam and the UK has reached 9 billion GBP (over 12 billion USD) in 12 months, surging nearly 31% compared to the same time last year.
  • Vietnam is currently the 34th largest trading partner of the UK.
  • Trade revenue could exceed the 10 billion GBP milestone soon.
  • Party General Secretary Nguyen Phu Trong's trip to the UK in 2013 showed Vietnam's 6% annual economic growth and positive business climate for UK enterprises.

Sources:

  • An interview with Kyril Whittaker, a British researcher of Vietnamese politics and history and member of the Communist Party of Britain (CPB)
  • The UK Government's statistics on two-way trade with Vietnam