On January 19, the Viet Nam Trade Promotion Agency and the UK Trade and Investment signed a deal to enhance assistance to and develop trading and investment between businesses from the two countries, in Hanoi.

The deal includes activities to solve trade and investment barriers between the two sides, including those under the framework of the Vietnam – UK Joint Economic and Trade Committee (JETCO).

In recent years, the economic and trade relationship between Viet Nam and the UK has generally been quite favorable, and has also been greatly strengthened in recent years. Between 2000 and 2008, the British Government provided Viet Nam with US$ 274 million in governmental assistance. Business sectors which UKTI helped encouraged investment were construction, energy, banking and financial services, electronics, computing, mechanics, agriculture and environment.

Total import and export turnover between the two sides in 2008 reached an estimated GBP (British Pounds) 1.1 billion, an increase of over 16.2 percent against 2007. Vietnam’s major commodities exported to UK include: seafood products, vegetables, cashew nuts, coffee, tea, pepper, rubber latex, bags, wood products, garments and textiles, computers and childern’s toys. (CPV)