PM calls for early finalisation of Comprehensive Economic Partnership Agreement with UAE

PM Pham Minh Chinh (R) and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the meeting in Hanoi on June 5. (Photo: VNA)

Hanoi - Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA).

The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023.

He affirmed Vietnam’s consistent foreign policy of independence, self-reliance, diversification and multilateralisation of external relations, and being a good friend, trustworthy partner, and responsible member of the international community. The country is also working to develop an independent and self-reliant economy that actively, extensively, practically, and effectively integrates into the world.

The UAE is one of the leading economic partners of Vietnam in the Middle East, PM Chinh stated, noting that the two countries’ friendship and cooperation have been flourishing in multiple spheres, including politics - diplomacy, trade, investment, education, tourism, and energy.

However, he held that there remains huge room for their partnership to grow further, especially in trade and investment.

The PM also asked the two sides to work closely together to organise the fifth meeting of the Inter-governmental Committee in 2023.

Vietnam encourages enterprises and investment funds of the UAE to invest in the fields matching both sides’ interest such as energy, renewable energy, climate change response, logistics, real estate, services, infrastructure, and building of innovation centres, he said, calling on the UAE to help Vietnam develop verification centres, train manpower, and manufacture products in the Halal industry.

The Government leader requested the two countries actively coordinate with and support each other at international and regional forums, including in enhancing ties between the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council.

He also suggested the UAE view Vietnam as a bridge linking it with ASEAN and act as a gateway for Vietnamese goods to enter Middle Eastern markets.

Vietnam welcomes the UAE’s organisation of the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) and is ready to cooperate with the host country and other members of the convention to contribute to the event’s success, PM Chinh added.

At the meeting, the UAE Minister of State held that the two countries share many similarities, particularly in development orientations, the size of their economies, growth rates, and the economies’ openness to many free trade agreements.

He noted that Vietnam accounts for 30% of the UAE’s trade turnover with Southeast Asia.

During his visit, many UAE enterprises and organisations, including two large investment funds, have also come to learn about the local investment climate, and they are interested in such fields as renewable energy, logistics, and health care in Vietnam, according to the official.

Thani bin Ahmed Al Zeyoudi affirmed that Vietnam is one of the important partners of the UAE, which hopes to continue promoting cooperation in labour export, digital transformation, culture, and education.

Relevant agencies of the UAE are flexibly and effectively boosting CEPA negotiations in the spirit of win-win cooperation, benefit harmonising and risk sharing as PM Chinh said so as to conclude the talks by the end of this year.

Via the Minister of State, PM Chinh thanked the Vice President and PM of the UAE for inviting him to visit the Middle Eastern country and also conveyed President Vo Van Thuong’s invitation to visit Vietnam to the UAE President. He invited the PM of the UAE to make a trip to the Southeast Asian nation to discuss measures to further strengthen the two countries’ solidarity, friendship, and multifaceted cooperation.

Door wide open for processed, manufactured products to enter UAE Products of the processing and manufacturing industry of Vietnam now have great chances to enjoy stronger export to the UAE, which has high demand for imports.

Vietnam, UAE to soon kick off negotiations of comprehensive economic partnership agreement Minister of Industry and Trade Nguyen Hong Dien and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) have signed a Ministerial Declaration on starting negotiations on a comprehensive economic partnership agreement (CEPA) between the two nations right after Vietnam completed its procedures. ​

Vietnam extends trade reach with upcoming agreements While Vietnam will trigger negotiations on an economic cooperation agreement with the United Arab Emirates, it is also seeking a free trade deal with some South American nations in a bid to amplify trade.