Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, and the UAE’s Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, signed a Ministerial Declaration to begin negotiations on a comprehensive economic partnership agreement (CEPA) between the two nations. This occurred after Vietnam completed its procedures, during Dien’s working visit to the UAE from April 5-6.
Dien highlighted the opportunities that the CEPA can bring for both countries, especially in the context of Vietnam becoming a manufacturing hub for many important commodities in the region and the world, and the UAE’s strengths as a transshipment port and financial and logistics center. He suggested that the two sides strengthen the exchange of delegations and business delegations to explore cooperation opportunities, particularly in the field of trade and investment.
UAE, Vietnam sign mutual declaration of intent to begin CEPA talks#WamNews https://t.co/UFOSuxl8NU pic.twitter.com/aezIlm54o2
— WAM English (@WAMNEWS_ENG) April 6, 2023
Dien also proposed that the management agencies of Vietnam and the UAE promote the establishment of a cooperation mechanism for Halal certification to facilitate trade in agricultural products between the two countries. Al Zeyoudi agreed with the proposals, stating that the UAE always considers Vietnam its important economic partner and wants to expand economic cooperation.
During the visit, Dien also met with the UAE’s Minister of Energy and Infrastructure, Suhail bin Mohammed Al Mazrouei. Dien proposed that the two sides sign a new MoU on energy cooperation and that the UAE consider investing in building a center for transshipment and storage of crude oil and petrochemical products in Vietnam to provide for the Asian region. Al Mazrouei agreed that there is great potential for the two countries to step up their cooperation, particularly in the fields of power transmission, power generation, food security, healthcare, infrastructure, construction, and port management.
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