Illustrative image (Source: VNA) Hanoi (VNA ) – The Ministry of Industry and Trade (MoIT) hasadvised Vietnamese enterprises to carefully study export regulations of the UnitedArab Emirates (UAE) when conducting business with UAE firms to avoid suffering losses.
According to the Vietnamese Trade Office in the UAE, many Vietnamesefirms have recently been defrauded by some UAE businesses.
The office warned that Vietnamese enterprises should stay vigilant whenselling goods to UAE firms at low prices, as this is a good reason for UAEfirms to force Vietnamese firms to accept their payment methods and prices, andeven devalue Vietnamese goods in the market.
Pham Quang Nghia, Vietnamese Trade Counselor in Dubai said that Vietnamesebusinesses should contact the Trade Office in the UAE before doing business inthe market, an open and transit market for 40 percent of exported goods.
To boost sustainable trade between Vietnam and the UAE, experts advisedthat Vietnamese firms should strictly abide by import-export regulations in theUAE to prevent their goods being sent back by local authorities.
In the future, the Vietnamese Trade Office in the UAE will strengthentrade promotion through exhibitions and showcases of Vietnamese foods, farmproduce and fruits in major supermarkets in the UAE.
At the same time, the office will also help enterprises seek UAEpartners and verify their information.
Minister of MoIT Tran Tuan Anh said that the ministry will continuenegotiating and signing cooperation deals to support enterprises of both sides.
At the same time, the ministry will also coordinate with the UAE in encouraginginvestment of enterprises in agriculture, aquatic farming, culture, tourism,sports and construction.
He also suggested that the firms study reference contracts forinternational trade in the guidebook for international trade activities.-VNA
VNA
