The agreement was reached during talks between Deputy Prime Minister Vu Van Ninh and UK Secretary of State for Foreign and Commonwealth Affairs William Hague in London on April 16. 

Mr. William Hague is optimistic about the economic development of Viet Nam and cooperative potentials of both sides, asserting that the UK Government commits to boosting the relationship in the future.

The UK welcomed Vietnam’s investment flows and exports to the country, and promised to assist it in restructuring its financial and banking system. 

 

The two sides affirmed to create favorable conditions for their businesses to increase investment in each nation. The UK vowed to do its best to help quicken and conclude negotiations for the Vietnam – EU Free Trade Agreement this year and further help Vietnam intensify all-round ties with the bloc. It also backs the EU in recognising the country as a market economy soon. 

The Vietnamese Deputy PM thanked the UK for is provision of Official Development Assistance (ODA) for Viet Nam till 2016, confirming that the source will be used effectively for the nation’s socio-economic development and international integration.

The host highly valued the role of Viet Nam at international forums, agreed to enhance dialogues and cooperation with Viet Nam at the United Nations, the Asia–Europe Meeting (ASEM) and in the framework of cooperation between ASEAN and the EU as well as supported the establishment of an ASEAN Community by 2015.

Both host and guest consented to holding more dialogues on issues where differences exist between them in a constructive spirit and with mutual respect.