Latest news with #TradeCommittee
Fibre2Fashion
16-07-2025
- Business
- Fibre2Fashion
Vietnam improves regulations to advance energy transition with UK help
With strong UK support through the Just Energy Transition Partnership (JETP) and various bilateral cooperation initiatives, Vietnam is gradually improving its regulatory framework, drawing on international expertise, experience and investment to advance its energy transition towards the goal of net-zero emissions by 2050. At the meetings of the Vietnam-UK Joint Economic and Trade Committee (JETCO) and the UK-Vietnam Free Trade Agreement (UKVFTA) Trade Committee in London recently, Vietnam called on the United Kingdom to step up support in management training, human resource development and building a sustainable renewable energy supply chain. UK businesses expressed strong interest in partnering with Vietnam in renewable energy, a Vietnamese news agency reported. With strong UK support through the Just Energy Transition Partnership and other initiatives, Vietnam is gradually improving its regulatory framework, drawing on international expertise, experience and investment to advance its energy transition towards the goal of net-zero emissions by 2050. UK businesses are keen on partnering with Vietnam in renewable energy. The 14th JETCO meeting discussed and agreed on a wide range of practical areas for cooperation, including agriculture, healthcare, banking and finance, renewable energy, the promotion of bilateral trade and investment, education, and capacity building. The BP Group and Vietnam's T&T Group signed a memorandum of understanding to promote e-mobility through a battery-swapping ecosystem for electric motorbikes. The United Kingdom is Vietnam's third-largest export market in Europe now. Fibre2Fashion News Desk (DS)
Yahoo
03-04-2025
- Business
- Yahoo
EU official warns Trump's 'liberation day' is more an 'inflation day'
The chair of the European Parliament's Trade Committee, Bernd Lange, warned that new tariffs imposed by US President Donald Trump on Wednesday could have severe negative consequences, especially for the average citizen. Lange said that Trump may call it a "liberation day," but from the perspective of the average citizen, it is more likely to be an "inflation day." The impact of a trade war would largely fall on US consumers, with increased costs and inefficiencies in production and processes. The German Social Democrat called Trump's move unjustified and disproportionate, saying it could lead to further escalation and an economic downturn for both the US and the global economy. He also expressed concern about the uncertainty created in the investment climate, citing recent stock market volatility. According to Lange, a united response from the countries concerned is needed to send a clear message to the US. The European Union will consider the best tools to address the situation and to hopefully encourage the US to engage in negotiations, he added. If the US is not willing to negotiate, the EU will not back down and will defend its sovereignty, he said.
