State leader leaves for Coronation of King Charles III
VGP - President Vo Van Thuong left Ha Noi on May 4 for the United Kingdom (UK) to attend the Coronation of King Charles III.
The attendance is made at the invitation of the Royal Family of the UK.
The President is accompanied by Foreign Minister Bui Thanh Son, Vietnamese Ambassador to the UK Nguyen Hoang Long, deputy head of President Office Phan Thi Kim Oanh, assistant to the President Duong Quoc Hung, and leaders of several ministries and sectors.
The President's attendance at the Coronation of King Charles III is a clear evidence that Viet Nam treasures its Strategic Partnership with the UK and delivers its respect to the Royal Family.
The two countries established their diplomatic ties on September 11, 1973. Over the past years, the two sides have exchanged high-level delegations to promote the bilateral relationship in a practical and effective manner.
In September 2010, they signed a Joint Statement on the establishment of the Viet Nam-UK Strategic Partnership.
The UK is currently Viet Nam's third largest trading partner in Europe. According to the General Department of Viet Nam Customs, in 2022, despite impacts of the COVID-19 pandemic, two-way trade saw a year-on-year increase of 3 percent to US$6.83 billion.
The two countries officially signed a free trade agreement (FTA) in December 29, 2020. The deal, which officially took effect on May 1, 2021, has helped create a comprehensive, long-term and stable framework for economic and trade cooperation between the two nations.
Regarding bilateral investment, the UK ranks in the top 20 countries with foreign direct investment (FDI) in Viet Nam.
Data from the Vietnamese Ministry of Planning and Investment showed that as of October 20, 2022, the UK had 494 valid investment projects in the Southeast Asian nation with a total registered capital of nearly US$4.2 billion, ranking 15th out of 140 countries and territories pouring capital into the Southeast Asian nation.
Meanwhile, as of June 2022, Viet Nam had 13 investment projects in the UK and added capital to three existing ones with a total capital of US$13.9 million, making the UK rank 39th out of 79 countries and territories receiving Viet Nam's investments./.