Vietnam, UK seek to lift bilateral trade to 10 billion USD

Hanoi (VNA) – Vietnam and the UK have pledged to deepen their Comprehensive Strategic Partnership, with both sides aiming to raise two-way trade to 10 billion USD this year while expanding cooperation across a range of strategic sectors.

The commitment was made during a meeting between Foreign Minister Le Hoai Trung and UK Parliamentary Under-Secretary of State Seema Malhotra in Hanoi on June 10 as part of the British official’s visit to Vietnam.

At the meeting, Trung thanked the UK for its high-level participation in the ASEAN Future Forum and reaffirmed Vietnam’s support for stronger ASEAN–UK ties. Marking five years of the ASEAN–UK Dialogue Partnership, he stressed Vietnam’s determination to effectively fulfil its role as ASEAN Coordinator for relations with the UK for the 2024–2027 period.

Highlighting the growing momentum in bilateral relations since the two countries elevated ties to a Comprehensive Strategic Partnership in October last year, the minister said Vietnam attaches great importance to its relationship with the UK and sees considerable scope for stronger collaboration in trade, investment, finance, science and technology, education, tourism, green transition and renewable energy.

He called for greater efforts to promote trade and investment and broaden market access for both countries’ products, with the objective of reaching 10 billion USD in bilateral trade this year. Trung reaffirmed Vietnam’s commitment to creating favourable conditions for British investors, particularly those involved in strategic infrastructure projects capable of generating wide-ranging economic benefits.

Malhotra congratulated Vietnam on the successful hosting of the ASEAN Future Forum and commended both ASEAN’s growing role and Vietnam’s active contributions to the bloc. She acknowledged Vietnam’s efforts in advancing ASEAN–UK cooperation.

The UK official praised Vietnam’s socio-economic achievements and welcomed the strong progress in bilateral ties, especially following Party General Secretary To Lam’s official visit to the UK in 2025. She reiterated London’s desire to further strengthen substantive cooperation with Vietnam in areas ranging from diplomacy and migration to trade, investment, science and technology, education and green growth.

Noting the strong interest of British businesses in Vietnam, particularly in energy and green transition projects, Malhotra said the UK will continue supporting Vietnam’s implementation of the Just Energy Transition Partnership (JETP), including efforts to improve the regulatory framework and attract greater international private-sector investment.

Both sides also agreed to boost economic cooperation through stronger links between investment funds, collaboration on the development of an international financial centre, and partnerships in critical minerals. They pledged to coordinate more closely in support of open and sustainable global trade.

In education, the two countries agreed to enhance cooperation among experts, research institutes and leading academic institutions, while developing programmes to help Vietnam train a high-quality workforce in sectors where UK expertise aligns with Vietnam’s development needs.

The UK also expressed its readiness to assist Vietnam in expanding English-language teaching and supporting the country’s ambition to make English a second language in its education system.

On regional and international issues, both sides reaffirmed their commitment to close coordination within multilateral mechanisms, particularly the United Nations and ASEAN–UK frameworks. They underscored the importance of dialogue, adherence to international law, settlement of disputes through peaceful measures, and the protection of freedom, security and safety of navigation, energy security, supply chains and the legitimate interests of all countries, thereby contributing to peace, stability and sustainable development in each region and the world./.