Vietnam's National Assembly supports UK joining CPTPP

The Speaker of the National Assembly affirmed that the Vietnamese National Assembly supports the UK's accession to the CPTPP and that relevant Vietnamese agencies are actively implementing the process to submit it to the National Assembly for ratification.

National Assembly Chairman Vuong Dinh Hue receives British Ambassador to Vietnam Iain Frew. (Source: VNA)

On the afternoon of January 24th, at the National Assembly building, National Assembly Chairman Vuong Dinh Hue received the British Ambassador to Vietnam, Iain Frew.

The Speaker of the National Assembly highly appreciated Ambassador Iain Frew's positive contributions to promoting Vietnam-UK relations.

Expressing delight at the positive development of Vietnam-UK relations, the Speaker of the National Assembly shared his positive impression of the very successful results of his official visit to the United Kingdom in 2022, and thanked the Ambassador for his efforts in contributing to that overall success.

Vietnam highly values ​​strengthening its strategic partnership with the United Kingdom. The relationship between the two countries has seen positive developments recently, particularly with the Joint Statement commemorating the 10th anniversary of the establishment of the strategic partnership (2010-2020), which outlines a vision for elevating the relationship in the coming decade.

Ambassador Iain Frew thanked the Speaker of Parliament for taking the time for the meeting; emphasizing that in the current volatile global situation, exchanging views to promote international cooperation is very important.

Congratulating the Vietnamese National Assembly on successfully holding its 5th Extraordinary Session and passing two important laws, namely the amended Land Law and the amended Law on Credit Institutions, the Ambassador thanked the Speaker of the National Assembly for promoting international cooperation with the UK, especially the National Assembly's ratification of the Vietnam-UK Free Trade Agreement (UKVFTA).

Ambassador Iain Frew agreed with the Speaker of the National Assembly's opinion that 2023 marks the 50th anniversary of the establishment of diplomatic relations between the two countries, with numerous exchange visits and commemorative activities contributing to strengthening strategic trust between the two sides. This is the most important foundation.

Furthermore, the strategic partnership between the two countries has encompassed numerous issues and areas of cooperation, including politics, diplomacy, economics, trade, sustainable development investment, security, defense, and healthcare. The implementation of the UKVFTA has yielded positive benefits for both countries. Specifically, despite global trade challenges in 2023, bilateral trade volume continued to increase.

Congratulating the United Kingdom on joining the CPTPP in 2023, the Chairman of the National Assembly stated that Vietnam has always supported the UK's early membership and is pleased to contribute to these positive achievements. As the world's fifth-largest economy with a high level of development and a member of the G7 group, the UK's becoming the first European country to join the CPTPP has strategic significance, elevating the CPTPP from a regional Pacific framework to a broad and inclusive agreement.

Along with the UKVFTA agreement, the UK's accession to the CPTPP will create new impetus for bilateral relations between Vietnam and the UK, strengthening the cooperation framework for the development of trade and economic relations between the two countries, helping Vietnamese and UK businesses diversify markets and participate more deeply in global supply chains.

The Speaker of the National Assembly affirmed that the Vietnamese National Assembly supports the UK's accession to the CPTPP and that relevant Vietnamese agencies are actively working on the process to submit it to the National Assembly for ratification.

The Speaker of the National Assembly stated that, given the complex developments in the global economy and geopolitics, the Ambassador should continue to contribute to strengthening economic and trade relations between the two countries on the existing foundation, renewing existing supply chains, and establishing new strategic supply chains with high added value. British businesses are increasing their investment in Vietnam.

The Speaker of the National Assembly affirmed that the Vietnamese National Assembly and Government are always striving and acting decisively to improve the investment and business environment for foreign investors in general, including British businesses.

Vietnam highly appreciates the potential and capabilities of the UK in the financial and monetary markets, and hopes to strengthen cooperation in this field; to support and assist Vietnam in developing its financial and monetary markets, including the development of an international financial center in Ho Chi Minh City. Vietnam wishes to work with the UK to address global issues, including digital transformation and a just energy transition, especially in terms of financial resources, technology, and institutional building for a just energy transition, fulfilling the commitment made at COP 26 to achieve net-zero emissions by 2050.

On this occasion, through the Ambassador, National Assembly Chairman Vuong Dinh Hue extended an invitation to the Speaker of the House of Commons and the President of the House of Lords of the United Kingdom to pay an official visit to Vietnam soon.

Ambassador Iain Frew stated that the UK wishes to promote bilateral cooperation through party, parliamentary, and government channels, including exchanges and collaborations between young parliamentarians from both countries.

Recently, the Vietnamese National Assembly successfully hosted the 9th Global Young Parliamentarians Conference. The Chairman of the IPU Young Parliamentarians Forum, UK Member of Parliament Dan Carden, participated and contributed to the overall success.

Emphasizing that the energy transition, particularly a just energy transition, is not only a challenge for Vietnam, the Ambassador said that the UK is pleased to participate in supporting Vietnam in this area, especially as Vietnam implements mechanisms and allocates financial resources to serve the energy transition...

Source: https://baoquocte.vn/quoc-hoi-viet-nam-ung-ho-anh-gia-nhap-cptpp-258633.html