Workshop discusses UK’s green and fair trade with Việt Nam

Speaking at a workshop themed “The UKVFTA – Green and Fair Trade with Vietnam” on Tuesday, Frew said his country is delighted that Việt Nam is becoming a regional leader in sustainability, with its ambitious commitment to net-zero emissions by 2050 at COP26. Jointly hosted by the Ministry of Industry and Trade and the UK Embassy in Việt Nam, the hybrid event provides a platform for discussion on the UK’s green and fair trade with Việt Nam through the UK-Việt Nam Free Trade Agreement (UKVFTA), commitments on renewable energy generation, plans to implement these commitments and opportunities and challenges in renewable energy development in Việt Nam. On the other hand, with commitments related to sustainable development, the agreement is also an important framework for cooperation activities on green and fair trade. In 2022, two-way trade between Việt nam and the UK increased 3.3 per cent year-on-year, with many key export products of Việt Nam posting high growth. In terms of investment, the UK has so far run 507 projects worth nearly US$4.2 billion in Việt Nam.