Workshop scrutinises UKVFTA commitments within Vietnamese pharmaceuticals sector
VOV.VN - On 10 January a workshop with the theme of “UK-Viet Nam Free Trade Agreement (UKVFTA) commitments and its implication to the pharmaceutical sector in Viet Nam” was held in Hanoi.
The event was co-hosted by the British Embassy Hanoi and the Drug Administration of Vietnam under the Ministry of Health.
Vietnamese Vice Minister of Health Do Xuan Tuyen joined with British Ambassador to Vietnam Iain Frew to deliver keynote speeches at the event. In addition, presentations from the Ministry of Health’s Drug Administration and the British Embassy Hanoi focused on the impact of the UKVFTA to bilateral trade, as well as the country’s ongoing review of legislative changes in the pharmaceutical sector.
In his speech, Ambassador Frew shared, “We appreciate the Vietnamese government and Ministry of Health’s ongoing efforts to revise legal regulation in relations to pharma registration and management and to accelerate the review and approval of the dossiers for pharmaceutical registration and renewal. We are looking forward to more legislative changes in the coming time, especially the amendment of Pharma Law, which we hope to be drafted and put in National Assembly’s agenda for review and endorsement before the end of 2024. Our British Embassy and the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) are keen to support Viet Nam’s Ministry of Health during this process.”
The workshop also provided a venue for the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) to share best British practices in terms of drug and vaccine registration. A panel comprising of the Ministry of Health, the British Embassy Hanoi, and pharmaceutical companies then exchanged ideas and feedback on the pharmaceutical sector, as well as UK’s investments in pharmaceuticals in the Vietnamese market, including opportunities, potential, and future challenges.
The panel further discussed how the implementation of UKVFTA commitments has changed how the pharmaceutical sector conducts business.
As the implementation of the UKVFTA enters its third year, the UK will continue to focus on boosting bilateral trade to new heights, particularly in key sectors such as healthcare.