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| UAE Foreign Minister to visit Vietnam (Photo: congthuong.vn) |
The UAE is currently Vietnam's largest trading partner in the Middle East - North Africa region. Bilateral turnover in 2022 reached USD4.4 billion, of which Vietnam's exports to the UAE were worth USD3.8 billion and imports from the UAE, USD582.6 million, an increase of 1.6% compared to 2021. Vietnam accounts for about 2.2% of the import market share in the UAE and the UAE accounts for about 0.2% of the import market share of Vietnam.
Statistics show that, in the first 4 months of 2023, import and export turnover between Vietnam and the UAE reached USD1.6 billion, down 9%. In which, Vietnam's export turnover reached nearly USD1.4 billion, while import turnover reached USD229 million.
In recent years, the import-export turnover between the two countries has reached an average of USD5 billion per year.
Not only a bilateral trade partner, the UAE is also an important transit area for Vietnamese goods exported to the Middle East and Africa.
Recently, Vietnam and the UAE are urgently discussing economic and trade cooperation issues of mutual interest, especially the negotiation of the Vietnam - UAE comprehensive economic partnership agreement (CEPA).
On June 5, at a meeting with Mr. Thani bin Ahmed Al Zeyoudi, Secretary of State in charge of international trade, UAE Ministry of Economy, Minister of Industry and Trade Nguyen Hong Dien said that the formation of long-term legal frameworks such as CEPA will provide the necessary foundation for the two sides to promote cooperation in the future. Through this agreement, the UAE can be a bridge between Vietnam and other countries in the region.
In addition, Vietnam encourages UAE businesses and funds to invest in fields of mutual interest such as energy, renewable energy, logistics, real estate, services, infrastructure, development of innovation centers, digital transformation, green economy, circular economy, climate change response, Halal food, human resource training, and labor cooperation, facilitating cooperation activities between petroleum and gas businesses of the two countries.
30 years after establishing relations, the friendship and cooperation between the two countries has made positive progress in many fields such as politics-diplomacy, trade, investment, education, tourism and energy.
According to the press release of the Ministry of Foreign Affairs, at the invitation of Minister of Foreign Affairs Bui Thanh Son, Foreign Minister of the UAE Sheikh Abdullah bin Zayed Al Nahyan is paying an official visit to Vietnam from June 13-14./.