New UK-Vietnam trade links discussed

Vietnam is a key gateway for West Midlands businesses seeking to broaden their overseas trade links post-Brexit, a seminar in Birmingham heard.

The Far East state is ripe for enterprising regional firms looking to take advantage of booming sectors such as technology and medicine, the event at Number 5 Barristers Chambers heard.

The seminar was attended by a wide variety of business representatives including the Vietnamese Ambassador to the UK Nguyen Hoang Long, Wyre Forest MP Mark Garnier, and Tony McDaid, President of Birmingham Law Society.

The Vietnamese Ambassador said there was ample room for a growth in trading between Vietnam and the UK - its ninth biggest trade partner - with bilateral trade expected to jump to around 10 billion US dollars over the next three to five years.

Andy Hipgrave, international logistics manager with Greater Birmingham Chambers of Commerce - who attended the seminar - said: “This was an extremely interesting and well-attended event - the growth of Vietnam over the last 10 to 15 years has been phenomenal.

“They have got the skills and the workforce and are moving on in areas such as technology and medicine. From a manufacturing perspective it is changing and evolving. Vietnam is now a world-player, from finance, medicine, textiles and manufacturing with a skillset to match.

“One of the things that came out of Brexit is that businesses are looking further afield. In my opinion, it is time to step back and consider new opportunities elsewhere. The political map is changing and there 's now a gateway for Midland businesses to look at Vietnam and see what they can do there. ”

Blue chip firms such as AstraZeneca and BP are among a host of major Western companies who have pursued trading opportunities in Vietnam.

Mark Garnier MP pointed to co-operation opportunities with the Far East state in renewable energy, education, health care and pharmaceuticals, financial services, technology and life sciences.

The UK is currently Vietnam 's ninth biggest importer and the fourth largest among European and American importers after the US, Germany and the Netherlands. The UK is also among the 15 biggest investors in the nation with 500 projects worth 4.19 billion US dollars.

Pictured: Andy Hipgrave, international logistics manager with Greater Birmingham Chambers of Commerce with Ambassador to the UK Nguyen Hoang Long