The UK affirms to strengthen extensive ties with Vietnam after Brexit
After the events of the British vote to leave the European Union (EU), Ms. Lesley Craig - Charge d’Affairs of the British Embassy in Vietnam affirms that the United Kingdom continues to work with Vietnam to increase extensive ties in trade and investment between the two countries.
Charge d’Affaires of the British Embassy in Vietnam, Ms. Lesley Craig
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For the question that the UK’s decision to leave the EU means that Vietnam may not receive preferential treatment from the open market, the value of the Euro and the Pound is decreased compared to the US dollar, Ms. Lesley Craig said that the UK is a strong advocate of enhanced and increased trade with Vietnam. The results of the EU referendum mean that ultimately there will be changes to the UK’s relationship with the European Union; 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 the UK and Vietnam’s mutual benefit.
The fact that Vietnam’s exports to the UK will face many technical barriers, she said: It is only a week since the Referendum. It’ll take time to work out the UK’s new relationship with the European Union. This process will help us understand what the changes mean across a spectrum of areas, including free trade agreements. But right now it is too soon to say what this will look like. In the meantime, the UK continues to be a member of the EU and to support the EU-Vietnam Free Trade Agreement. And for the time being the UK and Vietnam continue to trade in exactly the same way as we did before the referendum.
About the impacts on investment flow from the UK to Vietnam following Brexit, Ms. Lesley Craig confirms that it is not possible to predict the outcome of what will be detailed discussions between the UK and the European Union or the impact of the changes, which result from these discussions.
"What I do know is that Vietnam matters to the UK. We want to keep growing our bilateral relationship including through trade and investment. We want to continue strengthening the many links between our countries and our people. The bilateral trade relationship with Vietnam matters to the UK. Our plans to increase awareness that the scale and range of opportunities for to British firms in this market will not change. There is a reason why our Commercial team in Vietnam is the largest in SE Asia," she said.
"The UK will continue to be engaged in Vietnam, part of the most dynamic region in the global economy. 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, including trade and investment," Ms. Lesley Craig added.
The UK always advocates to cementing and deepening the trade ties with Vietnam. The recent referendum on the UK’s exit from the EU (so-called Brexit vote) only reflected the changes in the relations between the UK and the EU. However, the UK still hopes to shake hands with Vietnam to boost trade and investment activities, affirmed Ms. Lesley Craig.
“The UK is interested in enhancing the connections between the two countries and people,” she said. The UK commits to strengthening its footholds in Vietnam; beefing up the bilateral relations in all fields; thus bringing the two countries closer in the fields of trade and investment.
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