Dr Liam Fox, MP, UK Secretary of State for the Department for International Trade (Photo: GettyImages) Hanoi (VNA) - As theUK emerges from this period of change as a stronger, fairer, more united andmore outward-looking nation, this will lead to stronger relationships betweenthe UK and its trading partners in Southeast Asia, creating an era of evengreater opportunity.
The remark was made by Dr Liam Fox, MP, UK Secretary of State for theDepartment for International Trade and President of the Board of Trade, in hisrecent article on the UK’s exit from the EU and its relations with Southeast Asiancountries, including Vietnam.
Thefollowing is the full text of his article.
“There has beenconcern expressed by some that, on June 23, 2016, Britain voted for insularity.That, as a nation, the UK chose to surrender our place in the world and turnour back on our global relationships and commitments.
This could not be further from the truth andduring my visit to the region I will be making sure that message is heard.
The UK government’s ambition is to put Britainat the centre of the argument for global free trade; and to become the world’snatural business partner. The creation of the Department for InternationalTrade shortly after the referendum was a clear sign of the UK’s desire to bemore internationally engaged than ever before.
We want to create a Global Britain and, as the UK Prime Minister has said,while this means being the best friend and neighbour to our European partners,it also means being a country that reaches beyond the borders of Europe andgoes out into the world to build relationships with old friends and new alliesa like.
As the Secretary of State for the Department forInternational Trade, I will continue to visit key trading partners around theglobe to deliver the message that Britain is open for businesses and we want totrade with you.
In January this year I announced that my departmenthas identified over 50 countries where we see a match between local need andBritish expertise. This is part of our renewed drive to boost investment andexports.
With its vibrant, fast-growing economies – consistent growth averaging five percenta year and a combined GDP of 2.5 trillion USD – and a commitment to build oninternational links, I will be using my visit to Southeast Asia as anopportunity to see and hear about the huge potential for strengtheningrelations with between the UK and this important region.
On my visit to the region, I will have theopportunity to visit two of Vietnam’s major cities – Ho Chi Minh City andHanoi. A land of opportunity, Vietnam’s GDP per capita has increased by 350percent since 1991 and now has the fastest-growing middle class in the region.With a strong interest in the UK’s world class financial services, educationand training and infrastructure, there are real opportunities for the UK andVietnam to further our trading relationship.
UK design and engineering expertise are behindthe ‘Landmark 81’ project in Ho Chi Minh City which, once complete , will bethe tallest building in Vietnam and UK experts have been working closely withthe Vietnamese government as it looks to undertake a comprehensive reform ofits curriculum and foreign language teaching system.
This demonstrates key areas where we are already working together andthroughout my visit, I hope to explore how we can further build on these whilealso exploring new opportunities for UK-Vietnam partnerships.
While the current global climate presents challenges, these are notinsurmountable. Growth in global trade is slowing so now, more than ever,Britain and our free trading allies must stand firm and make the case loudlyfor free trade.
After all, the benefits are well documented and in terms of prosperity, tradehas freed millions of people from poverty while also driving down prices andraising the standard of living across the world.
The UK’s vote to leave the European Union haspresented a once in a lifetime opportunity to create an even more open,dynamic, free trading nation that will enhance trading relationships around theworld.
With infrastructure and education presenting opportunities for greatercollaboration, there are significant opportunities in sectors as diverse asdefence, healthcare, marine and financial technology.
For example, the Asian Development Bank has predicted the region needs to spendat least 60 billion USD a year on ensuring countries have the roads, bridges,railways and airports they need. While in the airline industry, increasedglobal demand from passengers is resulting in new planes being ordered toservice both new and existing routes. In 2016, over £3bn of orders were madefor British technology, including engines, from airlines based in South EastAsia.
British architecture and engineering expertise are already helping to meet theregion’s infrastructure needs and I’m keen to explore what more UK businessescan do to help achieve these ambitions.
And on the education side, 2016 saw British educators invest over £200 millioninto expanding their presence in the region. From the early days of 2000 whenthe University of Nottingham was the first UK campus overseas we have come along way and there are now nearly 20 British universities teaching in Malaysiaalone.
My visit to the region is an important part of the UK’s outward lookingapproach to trade and investment and I look forward to meeting with governmentsand businesses to discuss how we can work more closely together to overcomebarriers to trade and ensure globalisation acts as a force for good, spreadingprosperity.
As the UK emerges from this period of change as a stronger, fairer, more unitedand more outward-looking nation, I hope this will lead to strongerrelationships between the UK and our trading partners in South East Asiacreating an era of even greater opportunity”.-VNA
The UK government’s ambition is to put Britainat the centre of the argument for global free trade; and to become the world’snatural business partner. The creation of the Department for InternationalTrade shortly after the referendum was a clear sign of the UK’s desire to bemore internationally engaged than ever before.
We want to create a Global Britain and, as the UK Prime Minister has said,while this means being the best friend and neighbour to our European partners,it also means being a country that reaches beyond the borders of Europe andgoes out into the world to build relationships with old friends and new alliesa like.
As the Secretary of State for the Department forInternational Trade, I will continue to visit key trading partners around theglobe to deliver the message that Britain is open for businesses and we want totrade with you.
In January this year I announced that my departmenthas identified over 50 countries where we see a match between local need andBritish expertise. This is part of our renewed drive to boost investment andexports.
With its vibrant, fast-growing economies – consistent growth averaging five percenta year and a combined GDP of 2.5 trillion USD – and a commitment to build oninternational links, I will be using my visit to Southeast Asia as anopportunity to see and hear about the huge potential for strengtheningrelations with between the UK and this important region.
On my visit to the region, I will have theopportunity to visit two of Vietnam’s major cities – Ho Chi Minh City andHanoi. A land of opportunity, Vietnam’s GDP per capita has increased by 350percent since 1991 and now has the fastest-growing middle class in the region.With a strong interest in the UK’s world class financial services, educationand training and infrastructure, there are real opportunities for the UK andVietnam to further our trading relationship.
UK design and engineering expertise are behindthe ‘Landmark 81’ project in Ho Chi Minh City which, once complete , will bethe tallest building in Vietnam and UK experts have been working closely withthe Vietnamese government as it looks to undertake a comprehensive reform ofits curriculum and foreign language teaching system.
This demonstrates key areas where we are already working together andthroughout my visit, I hope to explore how we can further build on these whilealso exploring new opportunities for UK-Vietnam partnerships.
While the current global climate presents challenges, these are notinsurmountable. Growth in global trade is slowing so now, more than ever,Britain and our free trading allies must stand firm and make the case loudlyfor free trade.
After all, the benefits are well documented and in terms of prosperity, tradehas freed millions of people from poverty while also driving down prices andraising the standard of living across the world.
The UK’s vote to leave the European Union haspresented a once in a lifetime opportunity to create an even more open,dynamic, free trading nation that will enhance trading relationships around theworld.
With infrastructure and education presenting opportunities for greatercollaboration, there are significant opportunities in sectors as diverse asdefence, healthcare, marine and financial technology.
For example, the Asian Development Bank has predicted the region needs to spendat least 60 billion USD a year on ensuring countries have the roads, bridges,railways and airports they need. While in the airline industry, increasedglobal demand from passengers is resulting in new planes being ordered toservice both new and existing routes. In 2016, over £3bn of orders were madefor British technology, including engines, from airlines based in South EastAsia.
British architecture and engineering expertise are already helping to meet theregion’s infrastructure needs and I’m keen to explore what more UK businessescan do to help achieve these ambitions.
And on the education side, 2016 saw British educators invest over £200 millioninto expanding their presence in the region. From the early days of 2000 whenthe University of Nottingham was the first UK campus overseas we have come along way and there are now nearly 20 British universities teaching in Malaysiaalone.
My visit to the region is an important part of the UK’s outward lookingapproach to trade and investment and I look forward to meeting with governmentsand businesses to discuss how we can work more closely together to overcomebarriers to trade and ensure globalisation acts as a force for good, spreadingprosperity.
As the UK emerges from this period of change as a stronger, fairer, more unitedand more outward-looking nation, I hope this will lead to strongerrelationships between the UK and our trading partners in South East Asiacreating an era of even greater opportunity”.-VNA
VNA
