UAE-Vietnam Joint Committee meeting advances economic ties

The Vietnamese Ministry of Industry and Trade has hosted the fifth UAE-Vietnam Joint Committee in Hanoi. The Committee was co-chaired by Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Dr Nguyen Hong Dien, Vietnam’s Minister of Industry and Trade.

Senior diplomats and government officials from both sides participated in the Joint Committee and the Ministerial meeting, where bilateral talks covered a range of sectors and areas of mutual interest, including trade, investment, digital technology, agriculture, energy, transport, higher education, culture, tourism and labour.

Dr A Zeyoudi praised the strong relations between the United Arab Emirates and the Socialist Republic of Vietnam, noting that the fifth session of the Joint Committee is a continuation of bilateral efforts to enhance cooperation and strengthen partnerships between the two countries across a wide range of industry sectors.

In turn, Dr Nguyen Hong Dien highlighted Vietnam’s interest in elevating UAE-Vietnam bilateral relations to broader horizons and enhancing cooperation across various domains in a manner that serves the interests of both nations and their people.The Joint Committee concluded with the signing of the agreed minutes and a number of agreements between the UAE and Vietnam.

While in Vietnam, Dr Thani met with Vietnam’s Deputy Prime Minister, Tran Lưu Quang, in which they were able to review bilateral trade relations and discuss sectors of high potential for further growth. The UAE is Vietnam’s leading trade partner in the Arab World, sharing $8 billion in non-oil trade in 2022.

Vietnam and the UAE are expected to conclude the Comprehensive Economic Partnership Agreement (CEPA) this year, which will add new vigour to the 30th anniversary celebrations of diplomatic relations between the two countries, a top Vietnamese diplomat said in September.

“During the past 30 years, the friendship and cooperation between Vietnam and the UAE have been actively developing in all areas, especially politics, diplomacy, trade, investment, labour and travel. Viet Nam and the UAE are accelerating the negotiation of CEPA, which shall give great impetus to two-way trade between the two countries,” said Nguyen Manh Tuan, the Vietnamese Ambassador to the UAE.

In an exclusive interview with WAM at the Vietnamese Embassy in the capital, he said Viet Nam and the UAE are accelerating the negotiation process to sign the “crucial” CEPA within this year.

Manh Tuan said increased interactions between top officials of both countries have further strengthened the bilateral relations. It all began with the 2007 Vietnam visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The latest in that series were Vietnamese Vice President Thi Anh Xuan’s visit to the UAE and Vietnam visit of His Higness Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs, this year, the ambassador pointed out.

Another milestone was a series of Memorandums of Understanding (MoUs) for cooperation signed between both countries in almost all major sectors, he said.

The bilateral economic cooperation has witnessed tremendous growth since 1993 with constant official and business-to-business interactions between both sides to boost trade and investment, Manh Tuan noted.