Representatives from Vietnam’s Ministry of Industry and Trade (MoIT) and the UAE Ministry of Economy at the meeting in Hanoi on January 24. (Photo: VNA) Hanoi (VNA) – Officials from Vietnam’s Ministry of Industry and Trade (MoIT) and theUAE Ministry of Economy on January 24 agreed to speed up the negotiation for acomprehensive economic partnership agreement (CEPA) between the two countries.
Receiving Minister of State for Foreign Trade at the UAE Ministry of Economy Thani binAhmed Al Zeyoudi in Hanoi on January 24, MoIT Minister Nguyen Hong Dien hailed the Vietnam- UAE economic andtrade cooperation in recent years.
The two countrieshave been expanding cooperation in many fields, notably the launch of theirnegotiation for Vietnam-UAE CEPA, he said.
Appreciating theefforts and results that the negotiation delegations of the two countries havemade, the two officials discussed measures to address issues in which the twosides have different points of view.
Regardingbilateral cooperation, Minister Dien called on the UAE side to consider andfacilitate business delegation exchanges and coordinate to organisetrade promotion activities. He also proposed the UAE businesses to invest in Vietnam in some areas of mutual interest.
In the comingtime, the two sides agreed to cooperate more closely to speed up the Vietnam -UAE CEPA negotiation process and conclude it soon.
Currently, the UAEis the largest export market and the second-largest trade partner of Vietnam inWest Asia (after Kuwait).
In 2023, Vietnam'sexports to the UAE reached over 4 billion USD and its imports from this market hit over 676 million USD, marking a year-on-year increase of 4.3% and 16%respectively.
Vietnam's mainexports to the UAE include mobile phones, computers and components, electricalproducts, household electronics, pepper, seafood, footwear, textiles, grainproducts, plastic, and wooden furniture. It imports are raw plastics,liquefied petroleum gas (LPG), petroleum products, animal feed materials, metals, and chemicals./.
