Hanoi (VNA) – Vietnam wants to see more investmentfrom the United Kingdom (UK) in hi-tech agriculture, from cultivation toprocessing, preservation and distribution of farm produce and foods, said Deputy Ministerof Agriculture and Rural Development Phung Duc Tien.

He made the statement when delivering an opening remark atthe Vietnam – UK Business Forum held by the Ministry of Industry and Trade andthe Ministry of Agriculture and Rural Development in collaboration of the UKDepartment of International Trade (DIT) in London on May 25.

The forum discussed prospects for trade and investmentbetween the two countries’ enterprises in agriculture, education, renewableenergy and others. It also provided a platform for Vietnam to introduce itsmarket potential to British investors and for firms from both sides to shareinformation and seek partnerships to make the most of the UK-Vietnam Free TradeAgreement (UKVTFA).

The UK remains a major and trusted partner of Vietnam andits agriculture industry, Tien said, noting that agricultural cooperationbetween the two nations has made significant progress over recent years.

He expected British companies will form close and trustedjoint ventures and partnerships with Vietnamese agribusinesses and farmers.

Vietnam is the most dynamic market in Indo-Pacific and theVietnam-UK relations are growing strong, said Minister of State at DIT PennyMordaunt. The bilateral trade doubled over the last decade and the UKVFTA hasbrought tremendous benefits to sectors and enterprises from both countries, sheadded.

She further emphasised that Vietnam and the UK hold massivepotential in trade and the two sides should cooperate to fully unleash it.

Director of TT Meridian Thai Tran suggested that in order to boost thebilateral business ties, it is crucial for Vietnam and the UK to provide their companieswith better understanding of each other’s market, for example, standards,consumer habits, business culture and trade barriers.

Prior on the same day, the 12th meeting of theVietnam – UK Joint Economic and Trade Committee (JETCO12) took place under the co-chair of Vietnamese Deputy of Industry and Trade Dang Hoang An and Minister of StateMordaunt.

Discussions centred around various areas, includingdiplomacy, COP26 and renewable energy, agriculture, food and beverage,technology and financial technology, health care and pharmaceuticals, education,industry, and market management and trade remedy.

The two sides agreed to jointly increase high-level delegationexchanges in celebration of the 50th anniversary of the two countries’diplomatic ties (1973 – 2023).

The Vietnam – UK trade reached 6.6 billion USD last year, up17.2 percent from 2020./.