The King expressed his admiration for Vietnam’s achievements in economic reform and development, as well as the strong progress of the Vietnam-UK Strategic Partnership.

Ambassador Hung expressed his honour in assuming the role of Vietnamese Ambassador to the UK at a time when the Vietnam-UK Strategic Partnership is flourishing.

The diplomat updated King Charles III on Vietnam’s socio-economic achievements, highlighting its dynamic and open economy, which achieved GDP growth of over 7% last year. He highlighted sound development in bilateral cooperation across multiple sectors, including trade and investment, education and training, and defence and security. He pledged to do his utmost to further deepen the Vietnam-UK relationship.

At a reception later hosted by the Vietnamese Embassy in the UK for diplomatic representatives and overseas Vietnamese in the UK, the ambassador reviewed the steps of important development in the Vietnam-UK Strategic Partnership and the potential for further cooperation, particularly in energy transition, finance and banking, and high technology.

Victoria Busby, Director Protocol and Vice-Marshal of the Diplomatic Corps, commended the ambassador’s commitment and contributions to strengthening diplomatic, economic, and cultural relations between the UK and Vietnam since assuming office last July. She emphasised that the presence of the Vietnamese Ambassador in the UK reflects the desire to deepen the already strong bilateral relationship. She expressed her belief that the partnership and friendship between the two countries will continue to grow during Hung’s tenure.

Busby noted the potential for enhanced cooperation in environmental protection, climate change, and green energy, particularly as Vietnam aims to achieve net-zero emissions by 2050.

Vietnam and the UK established diplomatic relations in September 1973 and signed a Joint Declaration on the Strategic Partnership in September 2010 with seven priority areas of cooperation. Both countries have reaffirmed their commitment to elevating bilateral relations to a higher level over the next decade.

Economic and trade cooperation remains a key highlight of the bilateral relationship. In December 2020, the two countries officially signed the UK-Vietnam Free Trade Agreement (UKVFTA). Since 2021, bilateral trade has continuously grown, reaching US$8.4 billion in 2024, surpassing the US$8 billion mark for the first time and reflecting an 18% increase from 2023. Vietnam’s exports to the UK also exceeded US$7 billion for the first time, totaling over US$7.5 billion, up 18.9% year-on-year.

Regarding investment, the UK ranks 15th out of 140 countries and territories investing in Vietnam, with 569 projects and a total registered capital of US$4.37 billion as of mid-2024.

CPTPP enhances Vietnam-UK trade, investment cooperation

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will further boost trade and investment ties between Vietnam and the United Kingdom (UK), according to officials of the two countries.