Vietnam and the UAE aim to increase trade volume by US$10 billion

Vietnamese Prime Minister Pham Minh Chinh met with UAE Minister of Economy Abdulla Bin Touq Al Marri in Abu Dhabi to discuss expanding economic cooperation between Vietnam and the UAE. This is reported by Vietnam News Agency (VNA), a partner of TV BRICS.

During the meeting, Vietnamese Prime Minister Chinh emphasised the importance of implementing existing bilateral agreements and accelerating the signing of the Comprehensive Economic Partnership Agreement (CEPA) to reach the target of US$10 billion in bilateral trade.

Pham Minh Chinh praised the UAE's economic reforms and sustainable development initiatives, expressing confidence that the UAE Vision 2031 will make the country a global economic powerhouse. He also congratulated the UAE for successfully hosting the 28th UN Climate Change Conference (COP28).

Chinh outlined Vietnam's ongoing efforts to transform its economy with a focus on quality, sustainability and technology, drawing attention to the UAE's experience in these areas. 

The Prime Minister suggested that the two countries strengthen cooperation and exchange of experiences to expand economic ties. This includes promoting institutional development, boosting the growth of financial centres, attracting talent, and boosting research and technological innovation. He called for expanding trade and investment activities, strengthening tourism co-operation and establishing direct flights between the two countries.

Chinh urged the UAE to increase market access for Vietnamese exports, especially in agriculture and processed food, and support the development of Vietnam's halal industry, all of which will contribute to achieving the ambitious US$10 billion trade target.