Foreign Office Minister of State Hugo Swire and Vice Minister for Foreign Affairs Bui Thanh Son co-chaired the fifth UK-Vietnam Strategic Dialogue on 7 March 2016 in London as part of the bilateral Strategic Partnership signed in 2010. The Dialogue is a chance to evaluate the common goals of our bilateral relationship and make recommendations for strengthening the strategic partnership in priority areas such as politics, diplomacy, trade and investment, education, training, security and defence.
Both sides welcomed official visit to Vietnam by Prime Minister David Cameron and the strengthening of the strategic partnership. They agreed to continue visits and delegation exchanges between the two countries. Vietnam has been proactively pushing forward its international integration; and the UK continues to enhance its relationship with Vietnam and South East Asia.
The UK and Vietnam committed to increase cooperation in the multilateral fora and in international organisations, including the United Nations, ASEM, EU-ASEAN, especially on issues such as international law, climate change and sustainable development. Vice Minister Bui Thanh Son welcomed the UK’s contribution to the preservation of peace, collaboration and development in the region.
With regard to economic cooperation, both sides welcomed the impressive bilateral trade and investment in 2015, during which bilateral trade reached $5.4 billion USD in 2015, an increase of 25% compared to 2014. UK investment into Vietnam reached $4.7 billion USD, ranking second among EU member states . Both sides agreed to continue cooperation in economics, trade and investment; enabling companies from both countries to access investment and business market potential in each country. The two sides reiterated their support for the signing and ratification of EU-Vietnam Free Trade Agreement (FTA) and realising the opportunities this offered. Vietnam welcomed the launch of the new Prosperity Fund.