UAE-Vietnam trade sees dramatic growth

17:05 | 22/03/2016 Trade

(VEN) - Trade cooperation between the United Arab Emirates (UAE) and Vietnam recorded remarkable results in 2015, with Vietnamese goods winning consumer trust.

UAE-Vietnam trade sees dramatic growth

Vietnamese goods have increased its presence in the UAE

Vietnam’s seventh largest export market

Trade turnover between the two countries recorded good growth in 2015, reaching an estimated US$6.3 billion, a year-on-year increase of 24 percent. Thanks to these remarkable results, the UAE became Vietnam’s seventh largest export market after the US, China, Chinese Taipei, Japan, the Republic of Korea and Germany.

Vietnamese exports to the UAE reached US$5.7 billion in 2015, an increase of 23.5 percent compared to a year ago through the main exports of mobile phones, garments and textiles, computers, electronic equipment, seafood, pepper, wood and wood products, cashew nuts, plastic products, coffee, fruits and vegetables.

Mobile phones and its components were considered key items with export turnover of US$4.26 billion, an increase of 25.8 percent compared to 2014, accounting for 79 percent of Vietnam’s total export turnover to the UAE. Samsung has promoted exports to the UAE with a series of new smartphones such as Galaxy S6, S6 edge and S6 edge plus, accounting for nearly 53 percent of UAE imports for these items.

Vietnamese goods have won consumer trust in the UAE. Regarding agricultural products, rice, fruits, furniture and building materials, the Vietnamese Trade Office in the UAE has conducted market research and promoted links between businesses.

Promoting growth

The UAE will be Vietnam’s largest export market in the Middle East in the coming time, and the two sides are making greater efforts to reach trade turnover of US$7 billion in 2016.

On the basis of an increase in export turnover of key items such as mobile phones and its components, computers and electronic equipment, demand on Vietnamese goods in the UAE market is expected to increase in 2016.

Building materials, fruits, rice, agricultural products, seafood and consumer goods are also expected to record higher export turnover in 2016. However domestic businesses must pay special attention to commercial fraud with the office providing daily updates on the issue.

The Vietnamese Trade Office in the UAE will continue to enhance trade promotion activities, strengthen the presence of Vietnamese goods in supermarket chains such as Al Maya, Union Corps, Choithrams, Lulu and Carrefour, and directly work together and support Vietnamese export businesses to seek partners in the UAE. In addition, the office will also plan to organize tourism promotion programs. 

 

Vietnamese TRADE Counselor in UAE Pham Trung Nghia

Theo ven.vn