Vietnam, UAE eye stronger economic, trade and energy cooperation hinh anh 1Minister of Industry and Trade Nguyen Hong Dien (R) and Ambassador of the UAE to Vietnam Bader Almatrooshi. (Photo: VNA) 

Hanoi (VNA) - Vietnam always considers the United Arab Emirates (UAE) as one of its most important partners in the Middle East, Minister of Industry and Trade Nguyen Hong Dien told Ambassador of the UAE to Vietnam Bader Almatrooshi at a reception for the diplomat on May 19 in Hanoi.

Dien said that Vietnam highly values the role and position of the UAE as a leading economic, trade, financial, tourism, and logistics center in the world and the Middle East region.

The host and the guest discussed economic, trade, and energy cooperation issues of mutual interest.

Dien expressed his pleasure at the two side’s active coordination in implementing many important cooperation activities in recent years, especially the exchange of views on the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the UAE.

He suggested the two sides closely coordinate to successfully organise the 5th meeting of the  Vietnam - UAE Intergovernmental Committee in October 2023, and continue with internal procedures in accordance with regulations towards negotiating and signing the Vietnam - UAE CEPA as soon as possible.

The minister underlined the need for the two sides to soon negotiate to sign a memorandum of understanding on energy cooperation and proposed the UAE create favourable conditions for cooperation between petrol and gas businesses of the two countries.

He called on UAE businesses to study and invest in developing renewable energy, chemical, and supporting industries, material production, and industrial parks in potential economic zones of Vietnam.

For his part, Almatrooshi spoke highly of Dien's proposals, saying that the UAE government always considers Vietnam an important partner in the Asia-Pacific region and wishes to strengthen multifaceted cooperation with the Southeast Asian nation.

The Vietnamese Ministry of Industry and Trade (MoIT) plays an important role in promoting cooperation activities between the two countries, he said, noting that he will support and closely coordinate with the ministry and relevant agencies to promote the settlement of issues mentioned by the Vietnamese side.

If signed in the coming time, the CEPA will have a huge impact on bilateral economic, trade, and investment cooperation activities, he stressed.

The diplomat expressed his hope that the 5th meeting of the Vietnam - UAE Intergovernmental Committee will be an important cooperation mechanism to help the two sides promptly review the bilateral cooperation, thereby agreeing on effective measures to expand all-around cooperation.

The UAE side will send a delegation of large UAE groups and enterprises to Vietnam in June this year to seek trade and investment cooperation opportunities, he revealed.

Almatrooshi affirmed that he will work closely with the MoIT to further promote cooperation between Vietnam and the UAE in the coming time.

Statistics showed that the UAE is Vietnam's largest trade partner in the Middle East and African regions. In recent years, two-way trade between the two countries has averagely reached 5 billion USD per year. The UAE is also an important transit point for Vietnamese goods exported to the Middle East and Africa./.

VNA