Vietnam, UAE promote multifaceted cooperation

08:35 | 23/05/2019 Cooperation

(VEN) - Vietnamese Minister of Industry and Trade Tran Tuan Anh and United Arab Emirates (UAE) Minister of Economy Sultan Bin Saeed Al Mansoori said at the fourth meeting of the Vietnam-UAE Intergovernmental Committee in Abu Dhabi (UAE) that they will create conditions for expanded business cooperation in different fields.

vietnam uae promote multifaceted cooperation
The UAE is willing to provide Vietnam with technological assistance in oil and gas and energy, especially renewable energy industries

In recent years, the UAE has been Vietnam’s largest Middle East importer. While the UAE is the third largest re-export center in the world, with its import and export structures complementing each other, Minister Tran Tuan Anh said the potential for promoting bilateral trade remains huge.

The two countries have conducted many activities to promote trade and investment cooperation, including successful organization of the Vietnam-UAE Intergovernmental Committee meetings. The committee’s fourth meeting is expected to bring bilateral relations to new heights.

According to the Ministry of Industry and Trade’s Asia-Africa Market Department, during the fourth meeting, the two ministers reviewed the exchange of delegations at all levels, mutual support in world forums, and easing difficulties in joint venture and investment cooperation among enterprises in the fields of oil and gas, renewable energy, metallurgy, ocean liner repair, and aviation.

The two sides are encouraging enterprises to attend fairs and exhibitions in the two countries, urging the Abu Dhabi Development Fund to respond to a proposal for a transport infrastructure development project in Vietnam, considering a long-term cooperation framework by signing a memorandum of understanding (MoU), and accelerating the signing of an agreement on recognition of qualification standards for seafarers.

Vietnam will carry out trade promotion programs, Vietnamese goods weeks and programs for connecting agricultural and food enterprises with distributors in the UAE, strengthen the purchase of gas and liquefied gas from the UAE, and facilitate bilateral cooperation in education and training.

Within the framework of the fourth meeting, Vietnamese Minister of Industry and Trade Tran Tuan Anh and UAE Minister of Economy Sultan Bin Saeed Al Mansoori co-chaired the Vietnam-UAE Business Forum that attracted almost 100 enterprise participants. The forum was a good opportunity for Vietnamese businesses to meet, exchange information, and seek opportunities to cooperate with UAE partners in trade, industry, banking, logistics and infrastructure, among others.

“The two countries need to further strengthen cooperation not only in trade but also in investment. The UAE is willing to share its experiences with Vietnam and provide it with technological assistance in oil and gas and energy, especially renewable energy, cooperation development,” said the UAE Minister of Economy.

According to the General Department of Vietnam Customs, Vietnam’s trade with the UAE hit US$5.76 billion in 2018,

including US$5.2 billion worth of Vietnam’s exports and US$468 million worth of imports.

Thu Phuong