UK/Vietnam Free Trade Agreement - why it's a big deal for NashTech as well as UK plc

LONDON, Dec. 11, 2020 /PRNewswire/ -- The UK - Vietnam Free Trade Agreement (FTA) marks a milestone in the strong and fruitful relationship that the UK and Vietnam have enjoyed for the past three decades.

NashTech is Vietnam's largest foreign-owned technology employer and as we celebrate our 20th birthday, the FTA brings many benefits for NashTech, its clients as well as more broadly across the UK and Vietnam.

This bilateral Free Trade Agreement strengthens the UK/Vietnam platform across trade liberalisation, legal regulation and alignment of global standards. In particular it will:

• Significantly improve protection of Intellectual Property (IP) and Design. The FTA has wide provisions for IP that will bring Vietnam into line with the UK. British companies will be just as protected sharing ideas and innovations with Vietnamese partners like NashTech, as they do within the UK.
• Simpler and consistent regulation. Vietnam has spent a number of years bringing regulation in line with international standards. This FTA takes it one further step, bringing regulations in line with the UK. NashTech clients will benefit from a consistent and level playing field, including around labour regulation.
• Temporary imports. Until today the importation to Vietnam of pre used equipment, samples and test equipment has been heavily restricted. The FTA lays down simple rules for temporary importation that make it easy to arrange and receive equipment.
• Ecommerce. The FTA opens the door to international UK/Vietnam ecommerce. UK companies can run operations in Vietnam serving the UK population with significantly less regulation overheads.

Vietnam continues to set a global standard for economic and social ambition by embracing sustainability and driving its Industrial Revolution 4.0 agenda. The UK is an integral friend and enabler in this plan as we share our learnings and ideas on technology innovation and leadership, sustainable energy, health financial services, and digital evolution.

Nick Lonsdale, CEO NashTech, commented: "For two decades NashTech has experienced the enormous value of partnership between the UK and Vietnam. This Free Trade Agreement takes it one important step further and is an emphatic win for UK plc., NashTech and our clients."

Read the full release here:

https://nashtechglobal.com/news/uk-vietnam-free-trade-agreement/

Enquiries
David Pippett
ProServ PR
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Robert Grimsey,
Group Marketing Director,
Harvey Nash Group.
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[phone]

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