18:57 (GMT +7) - Monday 10/12/2018


VN-UK relationship to stay strong post-Brexit

Released at: 10:37, 02/07/2016

VN-UK relationship to stay strong post-Brexit

Photo: UK Embassy

VET spoke with Charge d'Affaire Ms. Lesley Craig at the UK Embassy in Vietnam about how Brexit may influence bilateral relations.

by Hong Nhung

■ What will be the impact of Brexit on Vietnam’s economy?

The UK is a strong advocate of enhanced and increased trade with Vietnam. The result of the EU referendum means that ultimately there will be changes to the UK’s relationship with the EU. But there will be no immediate changes to the ways we do business. The UK continues to work with Vietnam to increase trade and investment between the two countries.

Britain’s economy is one of the strongest major advanced economies in the world and we are well placed to face the future. We have low, stable inflation. The employment rate remains the highest it has ever been. Britain is capable of thriving and prospering on the world stage. We still want the UK to be the easiest place in the world to trade with, from and to. This will be to Vietnam’s and the UK’s mutual benefit.

■ Could Brexit have any effects on the bilateral relationship?

The EU referendum was a hugely significant event for the UK. We know that people across the world, including in Vietnam, have been watching the choice that Britain has made.

Britain remains a country of many great advantages - a parliamentary democracy where we resolve great issues about our future through peaceful debate, a great trading nation with our science and arts. We are confident that we will find many ways to grow the relationship in the future and grow the personal relationships and friendships that underpin it.

The UK’s bilateral relationship with Vietnam continues to grow, supported by our strategic partnership. We remain committed to strengthening the UK’s relationship with Vietnam across the broad and deep spectrum of issues that bring us together.

■ Will there be any changes in trade and the UK’s investments in Southeast Asia?

The UK will continue to be engaged in Southeast Asia, the most dynamic region in the global economy. Vietnam matters to the UK. We want to keep growing our bilateral relationship including through trade and investment. Our plans to increase awareness about the scale and range of opportunities for British firms in this market will not change. There is a reason why our commercial team in Vietnam is the largest in Southeast Asia!

We continue to be a Top 10 world economy, innovative and committed to a rules-based international system. We will continue to encourage greater two-way flow of goods and services and investment into the UK. There continue to be many reasons for Vietnamese companies to do business in the UK: from our regulatory to our tax system - we have the lowest corporation tax in the G20 and G7.

We continue to have some of the best universities in the world, some of the best cutting-edge research, innovation and design, world beating creative industries and some of the most efficient and competitive manufacturing capabilities. The world will continue to be attracted by UK creativity and our cultural offer.

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