As part of a new trade strategy that prioritizes speedy, industry-specific agreements, Britain announced that it would reach an agreement with Vietnam to facilitate the sale of pharmaceutical companies’ products in the Southeast Asian country.

In contrast to the focus it placed on full-fledged free trade deals after leaving the European Union, Britain promised a more agile approach when it unveiled the new policy last month.

The British government told Reuters in a statement that Vietnam will expedite the registration of innovative drugs and vaccines while acknowledging approvals from other regulators, such as the Medicines and Healthcare Products Regulatory Agency in Britain. Later on Monday, the agreement is anticipated to be confirmed.

“The removal of pharmaceutical barriers with one of our closest trading partners in Asia is a boost for the UK pharmaceutical industry and proof our Industrial and Trade Strategies are already delivering,” Douglas Alexander, the British trade minister, said.

According to the government, the arrangement might benefit the British pharmaceutical industry by 250 million pounds ($337 million) over the course of the following five years. During Monday’s meeting in London, the UK-Vietnamese Joint Economic and Trade Committee will also talk about renewable energy and financial services.

But in some areas, Britain has taken a more aggressive stance. For example, a new quota system is expected to limit Vietnam’s steel imports. Britain’s new industrial plan, also unveiled last month, prioritizes the life sciences, especially pharmaceuticals.

The British pharmaceutical industry, however, has argued that the government should value medications more equitably and modify the payments they make back to the health care, delaying that plan.