At the ceremony held on September 15 in London, Vietnamese Ambassador to the U.K. Nguyen Hoang Long called on the VBUK to maintain its role as a bridge between the business community in the UK and Vietnam.
He said that bilateral trade between Vietnam and the U.K. has increased about 10 times from USD 600-700 million in 2007 to USD 6.5 billion in 2021, and is expected to reach USD 10 billion thanks to the implementation of the UKVFTA.
The Ambassador emphasized that this is a great opportunity that Vietnamese businesses in general and Vietnamese businesses in the U.K. in particular need to take advantage of.
Pham Minh Nam, chairman of VBUK in the just-concluded tenure, said that the association successfully connected the business communities of the U.K. and Vietnam, and assisted many European and U.K. companies in setting up partnerships with Vietnamese firms.
The VBUK also actively work to help Vietnamese expatriates in the U.K. to keep and develop the traditional culture through various community activities.
Assessing the potential for cooperation between domestic and Vietnamese enterprises in the U.K., Phuong Hoang, Chairman of VBUK for the 2021-2026 term said that the implementation of UKVFTA with preferential tariffs has opened up great opportunities for Vietnamese businesses in the two countries to promote trade, increase import-export activities and investment.
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