Scottish Secretary Alister Jack will journey to Vietnam this week on a mission to spice up commerce and diplomatic hyperlinks. He can be joined by the Scotch Whisky Affiliation (SWA), in a drive to spice up the Vietnamese export market.
Vietnam has sturdy enterprise and academic hyperlinks to Scotland, and 2023 marks the fiftieth anniversary of the UK and Vietnam establishing formal diplomatic relations.
Mr Jack will undertake a packed programme in Hanoi and Ho Chi Minh Metropolis, which can embody:
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talking to main political figures from the Vietnamese authorities;
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internet hosting (collectively with the SWA) a whisky reception in Hanoi for key enterprise representatives, plus a reception in Ho Chi Minh Metropolis to advertise Scottish produce;
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visiting textile producer Coats, to listen to about their operations in Vietnam; and
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assembly college students on the British College Vietnam (BUV) and seeing the signing of a brand new partnership between the BUV with Stirling College.
Alister Jack mentioned:
“It’s a actual honour to promote UK pursuits in Vietnam – significantly this yr which marks 50 years of the UK’s and Vietnam’s formal diplomatic relations. I look ahead to constructing on these sturdy and vital ties with our Vietnamese associates.
“The UK Authorities’s post-Brexit free commerce settlement with Vietnam provides enormous alternatives for Scottish companies, and I look ahead to selling Scotch and different vital Scottish exports on this vital market.”
Throughout his go to to Hanoi, Mr Jack will meet with Vietnam’s International Minister, Bui Thanh Son, reaffirming the UK’s dedication to furthering cooperation with Vietnam in a variety of fields, together with this yr’s celebration of fifty years of diplomatic relations. He will even meet the Agriculture and Rural Growth Vice Minister, Phung Duc Tien, and the Vice Minister for Business and Commerce, Nguyen Sinh Nhat Tan. Mr Jack will deal with methods to strengthen UK-Vietnam commerce relations, significantly in gentle of the UK’s latest settlement to hitch the Complete and Progressive Settlement for Trans-Pacific Partnership (CPTPP). He will even meet the National Assembly Foreign Affairs Committee to debate worldwide relations.
In Ho Chi Minh Metropolis, Mr Jack will meet with the Metropolis’s political management and the Nationwide Meeting’s Committee For International Affairs. These talks will foster deeper connections and collaboration between the UK and Vietnam.
Mr Jack will go to a Coats manufacturing facility in Ho Chi Minh Metropolis to listen to about their enlargement into the Vietnam market. The corporate, with its roots in Paisley, is the world’s main industrial thread producer.
And he’ll meet a bunch of Chevening Students to study their experiences at UK universities and the way they’re utilizing that studying again house in Vietnam. The Chevening scheme is the UK authorities’s worldwide scholarships programme, which allows excellent rising leaders from everywhere in the world to pursue masters levels within the UK.
Newest commerce figures present that nearly 200 Scottish firms export items to Vietnam value £83 million a yr – greater than 11 per cent of all UK exports to Vietnam. The three high three export are drinks, fish and scientific devices. There may be enormous additional potential for Scottish companies within the nation.
Vietnam is a precedence marketplace for Scotch. Vietnam is the twenty fourth largest export market by worth. In 2022 direct exports have been value £73.9 million equal to 7.1m bottles, having grown in worth by 371 per cent since 2019. Single malts account for 31% of exports. Some 85 per cent of all whisky drunk in Vietnam is Scotch. Underneath the UK-Vietnam Free Commerce Settlement, the 45 per cent import tariff is being step by step lowered over six years to zero (it’s presently 24 per cent). This has been a major think about driving exports.
Graeme Littlejohn, Scotch Whisky Affiliation Director of Technique and Communication, will be part of the Secretary of State on the go to, mentioned:
“Because the quickest rising financial system in Asia final yr, Vietnam is attracting world funding and the alternatives for Scottish exports are clear to see. The expansion of Scotch Whisky exports to Vietnam over the previous few years is linked to this financial potential, coupled with the discount in tariffs agreed as a part of the UK-Vietnam commerce deal, and the significance of premium tourism to the Vietnamese financial system.
“Because the UK’s largest foods and drinks export, Scotch Whisky recurrently breaks new floor in rising markets, displaying the way in which for different Scottish exports. The Secretary of State’s go to is welcome reminder of the cachet that Scotland, and Scottish merchandise, have on the world stage.”
Mr Jack will arrive in Vietnam in the present day [Tuesday 3 October] for a 4 day go to. He’s being supported by the British Embassy in Hanoi and the British Consulate in Ho Chi Minh Metropolis, a part of the UK’s in depth world diplomatic community.
ENDS
