Viet Nam, UK ink MoUs on green energy and trade cooperation
VGP - Viet Nam and the UK signed two Memoranda of Understanding (MoU) on cooperation in green energy and trade in London on October 30.
Deputy Minister of Industry and Trade Nguyen Hoang Long (right) and UK Ambassador to Viet Nam Iain Frew sign an MoU on clean energy cooperation between the Vietnamese Ministry of Industry and Trade and the UK Foreign, Commonwealth and Development Office - Photo: VNA
The MoU on clean energy cooperation was signed between the Vietnamese Ministry of Industry and Trade (MoIT) and the UK Foreign, Commonwealth and Development Office, while the other on product safety was inked between MoIT and the UK Department for Business and Trade.
These MoUs build on the strong and effective collaboration between the MoIT and its UK counterparts in the fields of trade and clean energy, outlining specific directions for future cooperation under the key pillars of the Viet Nam–UK Comprehensive Strategic Partnership, established during General Secretary To Lam's official visit to the UK.
The MoU on clean energy cooperation establishes a UK–Viet Nam Clean Energy Partnership Framework, representing a strategic step forward in realizing both countries' shared goals of achieving net-zero emissions and promoting sustainable growth. It also complements a green finance cooperation agreement signed between the UK and Viet Nam's Ministry of Finance.
The two sides will deepen collaboration in renewable energy development, upgrade power grid infrastructure and transmission systems, mobilize public and private financing for the green transition, improve the legal environment to attract clean energy investment, and foster innovation and technology exchange to drive sustainable green growth.
Meanwhile, the MoU on product safety reaffirms both sides' commitment to enhancing trade cooperation and promoting the sustainable growth of bilateral goods trade. It focuses on strengthening coordination to prevent unsafe products, raising awareness and expertise in product safety, and sharing experience and best practices in developing, managing, and operating e-commerce platforms.
The signing of these MoUs marks an important milestone in implementing existing cooperation frameworks and puts into action the commitments outlined in the Joint Statement on upgrading Viet Nam–UK relations to a Comprehensive Strategic Partnership, generating tangible benefits and contributing to stronger economic growth in both countries.
On October 29, General Secretary of the Communist Party of Viet Nam Central Committee To Lam and British Prime Minister Keir Starmer issued a Joint Statement on the elevation of Viet Nam–UK relations to a Comprehensive Strategic Partnership.
Under the new partnership framework, both sides agree to strengthen cooperation by mobilizing green finance to promote low-emission, resilient green growth, working together to share expertise and deploy green financial instruments in Viet Nam, including through the launch of the Viet Nam-UK Green Finance Partnership. The two sides also commit to removing institutional barriers, so the private sector can play a central role in promoting green growth and sustainable trade./.
