Vietnam ‘moving up the value chain’, says UK trade rep
“Vietnam is quickly shedding its image as a place people flew over on the way to other Far Eastern economies,” said Cahn at a UK -Vietnam Joint Economic and Trade Committee (JETCO) meeting in Hanoi, which took place October 5-6.
“The Vietnamese authorities are very enthusiastic about working with firms from abroad. I want to do what I can to encourage British companies to realize the incredible opportunities there are and help them succeed here.”
The UK delegation also expressed concerns about market access in the retail, telecoms and insurance sectors as well as customs formalities. UK representatives said UK firms expected to invest in thermoelectricity here.
Vietnam representative Deputy Minister of Industry and Trade Le Danh Vinh said his country appreciated the comments coming from the UK representatives.
Both sides agreed to hold follow-up meetings with businesses and government agencies to deal with any trade issues that might arise.
The meeting was the third organized by JETCO, following the first in September 2007 and the second in December 2008.
Since its establishment in 2007, JETCO has helped facilitate the local incorporation of UK banks in Vietnam, the clarification of distribution rights for foreign invested companies, and intellectual property rights protection for pharmaceutical sector.
