FX.co ★ UK Agrees Deal with Vietnam to Remove Pharmaceutical Trade Barriers

The UK has announced plans to finalize an agreement with Vietnam to facilitate the sale of UK-produced pharmaceuticals in the Vietnamese market. This initiative is part of the UK's new trade strategy, which prioritizes swift, sector-focused agreements. Trade Minister Douglas Alexander stated, "The elimination of pharmaceutical trade barriers with one of our key Asian partners is a significant advantage for the UK pharmaceutical sector, demonstrating that our Industrial and Trade Strategies are already yielding results." The Department for Business and Trade revealed on Monday that British pharmaceutical companies could benefit by up to £250 million over the next five years due to amendments in Vietnamese legislation that simplify the distribution of UK-manufactured medicines within the country.