UK deepens commitment to ASEAN-UK Economic ties in Vientiane
The UK’s Senior Economic Official to ASEAN, His Majesty’s Trade Commissioner (HMTC) for Asia Pacific Martin Kent, is visiting Vientiane, Laos to demonstrate the UK’s continued and deepening economic commitment to ASEAN.
His Majesty’s Trade Commissioner (HMTC) for Asia Pacific Martin Kent, and His Majesty’s Ambassador to the Lao People’s Democratic Republic Melanie Barlow, attended ASEAN-UK Senior Economic Officials Meeting in Vientiane, Laos.
The UK-ASEAN trade relationship is already worth nearly £50 billion. The UK is a top 10 investor in ASEAN, with over £25 billion of foreign direct investment in 2021. Businesses in ASEAN, in turn, invested £14.8 billion in the UK in 2021.
Over two days, HMTC Kent will co-chair the ASEAN-UK Senior Economic Officials meeting with Saysana Sayakone, Director General for Foreign Trade Policy of Laos’ Ministry of Industry and Commerce, and hold bilateral meetings with ASEAN Member States and Dialogue Partners.
The UK supports Laos’ Chairmanship of ASEAN in 2024, endorsing the theme of ‘Enhancing Connectivity and Resilience’. The UK will support Laos’ Priority Economic Deliverables, focusing on digital trade standards.
UK Ambassador to ASEAN, Sarah Tiffin, said:
Our commitment to this dynamic region is stronger than ever. We are committed to fostering economic growth and resilience in ASEAN and in the UK through our innovative partnership. His Majesty’s Trade Commissioner Martin Kent’s visit follows the launch of the UK Government’s £25m ASEAN-UK Economic Integration Programme in April. Across four years, the programme will partner with ASEAN Member States and Timor Leste to support inclusive economic growth in the region, support women’s economic empowerment, boost the growth of small businesses, and drive digitalisation.
This visit also underscores our support for Laos’ chairmanship of ASEAN in 2024 and our shared vision of a more interconnected and resilient ASEAN. Working together, we want to enhance the trading environment through digitisation, and share experience of improving regulatory standards, to increase economic opportunities.
His Majesty’s Trade Commissioner for Asia Pacific, Martin Kent, said:
ASEAN is an important partner of the UK, and we are proud as a Dialogue Partner to be deepening our economic integration with this vital region. This includes digitising trade, sharing our financial services expertise, and bringing world-class infrastructure companies to the region.
We look forward to returning to Laos in September for the ASEAN Economic Ministers-UK Consultation and working with the UK-ASEAN Business Council at the ASEAN Business and Investment Conference (ABIS) in October.
HMTC Kent’s visit follows the launch of the UK Government’s £25 million ASEAN-UK Economic Integration Programme in April. Over 4years, the programme will support ASEAN on:
- the design of regulations, standards, and intellectual property rights
- increase trade between the UK and ASEAN
- improve access to financial services across ASEAN by sharing world-leading UK expertise