Sunday, May 19, 2024

Negotiations between the UAE and Vietnam to reach an economic partnership agreement by the end of 2023


Vietnam’s ambassador to the country, Nguyen Manh Tuan, confirmed that the UAE and Vietnam are making progress in negotiations to reach a comprehensive strategic economic partnership agreement for both countries and their allies.

The Vietnamese ambassador emphasized that reaching a comprehensive strategic economic partnership agreement with the United Arab Emirates this year, through the ongoing negotiations between the two countries, will promote solid bilateral relations in conjunction with the 30th anniversary of the establishment of diplomatic relations between the two friendly countries. . On the occasion, he noted the depth of friendly and cooperative relations between the two countries, which have seen tremendous growth at the political, diplomatic, commercial and investment levels in recent years.

Regarding investment in the clean and renewable energy sector, both allies have pledged to eliminate carbon emissions by 2050, paving the way for enhanced cooperation between them in renewable and clean energy projects including solar power, wind power. and hydrogen. He expressed hope that the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which will be held at Expo Dubai from November 30 to December 12 this year, will be an important international platform for discussion. A high-level Vietnamese delegation will participate in this important international event to discuss climate change for the benefit of all humanity and to address the phenomenon.

Regarding Vietnamese companies operating in the country, the ambassador noted that most of these companies work in logistics services, vegetables, fruits, food and non-food products. Offices were opened in Abu Dhabi and Dubai, which coordinates the process of increasing cooperation between the two friendly countries and is in the interest of both countries A comprehensive economic partnership agreement was signed between the United Arab Emirates and Vietnam. Foreign Trade Minister Dr. Thani bin Ahmad Al-Siodi had earlier announced that the UAE is Vietnam’s number one Arab trading partner, representing 39% of its total trade with Arab countries. The volume of non-oil trade between the two sides is expected to reach 29.4 billion dirhams (about 8 billion dollars) in 2022. Trade in goods other than mobile phones and accessories rose to 46%, down from 36% in 2019. Last year totaled 13.5 billion dirhams (equivalent to 3.5 billion), a 9% increase over 2021, and 34 and 26% growth in 2020 and 2019, respectively.

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Bill Dittman
Bill Dittman
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