In a meeting with Dr Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for International Trade Affairs, Prime Minister Phạm Minh Chính of Việt Nam has urged for deeper economic ties between the two countries, particularly in finalizing the Comprehensive Economic Partnership Agreement (CEPA).
The meeting, part of Dr Al Zeyoudi’s second visit to Việt Nam, saw discussions around cooperative efforts and ongoing CEPA negotiations. The significance of these talks is accentuated by the 30th anniversary of diplomatic relations between the two nations in 2023.
PM Chính outlined Việt Nam’s commitment to an independent and multilateral foreign policy while acknowledging the country’s impressive 8.02% GDP growth in 2022. As one of the world’s top 20 economies in terms of trading scale, Việt Nam’s import-export turnover reached US$732.5 billion in 2022, aided by its 15 Free Trade Agreements (FTAs).
PM Chính praised the UAE’s transition from oil and gas extraction to developing the service sector and identified the UAE as one of Việt Nam’s key economic partners in the Middle East. Bilateral trade turnover between the two countries exceeded US$4.4 billion in 2022, marking productive cooperation in areas such as diplomacy, trade, investment, education, tourism, and energy.
Recognising the potential for further collaboration, PM Chính proposed intensified bilateral coordination in arranging the 5th Session of the Joint Governmental Committee in 2023. He invited UAE businesses and investment funds to invest in energy, renewable energy, logistics, real estate, services, infrastructure, and innovation centres.
He called for enhanced ties between the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC) and requested the UAE’s support in developing cooperation mechanisms.
Việt Nam welcomed the UAE’s hosting of the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 28) and showed readiness to collaborate for the success of COP 28.
Dr Al Zeyoudi led a delegation of businesses and organisations to explore investment opportunities in Việt Nam, with renewable energy, logistics, and healthcare among the areas of interest. He stated that the UAE sees Việt Nam as a significant economic partner with considerable potential in labour export, digital transformation, and education.
PM Chính extended an invitation from Vietnamese President Võ Văn Thưởng to the UAE President to visit Việt Nam, further emphasising the strengthening relationship between the two countries.