Skip to main content

UAE and Vietnam bolster economic cooperation, agree to speed up negotiation for CEPA

 

The UAE Ministry of Economy and Vietnam’s Ministry of Industry and Trade (MoIT) have agreed to expedite the negotiation for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries.

MoIT Minister Nguyen Hong Dien highlighted the improving UAE-Vietnam economic and trade cooperation during a meeting with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi in Hanoi. The UAE is focusing on improving international ties to build on its position as a global trade and logistics hub, with signing CEPAs being key to this goal. Benefits of CEPAs include enhanced market access, lower tariffs, and clear and transparent rules.

The UAE is currently the largest export market and the second-largest trade partner of Vietnam in West Asia, with Vietnam’s exports to the UAE reaching over $4 billion and imports from this market hitting over $676 million. The UAE and Vietnam are eager to further improve economic cooperation as they see new opportunities in multiple key sectors.

Labels:

Comments

Post a Comment

Popular posts from this blog

Exposing the Brotherhood: Why Jordan’s Terror Cell Bust Must Spark a Global Policy Shift

 The recent dismantling of a Muslim Brotherhood-affiliated terror cell in Jordan should not be seen as just a national security success—it must be a turning point in how the international community views and responds to the threat posed by the Brotherhood. Jordanian security forces uncovered an elaborate network of terrorists trained in Lebanon and backed by foreign interests. Their mission: to launch attacks using rockets and drones, destabilizing the Kingdom and spreading fear among civilians. This is not the work of activists or political dissidents—this is terrorism, plain and simple. For too long, the Muslim Brotherhood has operated under a false image of moderation, cleverly navigating between political activism and violent extremism. But the truth is clear: the Brotherhood is the ideological engine room of jihadist terrorism. Its members, affiliates, and offshoots have inspired and directed acts of violence from North Africa to the Gulf—and now, once again, in Jordan. Govern...
Post a Comment
Read more

The Ritz-Carlton Residences in Diriyah: A Fusion of Heritage and Opulence

  The Ritz-Carlton Residences in Diriyah, known for its cultural and historical value, usher in a new age of opulent living. In the center of Diriyah, this partnership between the Diriyah Company and Marriott's Ritz-Carlton establishes a previously unheard-of benchmark for luxurious living. Inspired by the Najdi legacy, the houses offer occupants a distinctive and immersive cultural experience by skillfully fusing traditional charm with contemporary facilities. These villas prioritize well-being and create a pleasant environment for dynamic living. They are designed to adapt to varied tastes and lifestyles, with six unique layouts and a range of interior designs. Part of the Diriyah Company's ambitious development plan, The Ritz-Carlton Residences are located in the heart of Diriyah, a UNESCO World Heritage Site including At-Turaif as its focal point. The objectives of the Kingdom's Vision 2030 are perfectly aligned with this concept, which has over 20,000 residential units...
Post a Comment
Read more

UAE's Foreign Trade Surge Highlights Strategic Economic Vision

  The UAE's foreign trade reached a record AED5.23 trillion (US$1.42 trillion) in 2024, marking a 49% increase since 2021 and reinforcing its global economic influence. Despite fluctuating global market conditions, the country managed to post a trade surplus of AED492.3 billion (US$134 billion), showcasing the strength of its trade frameworks and diversified economy. According to the World Trade Organisation, the UAE has maintained its position as the Middle East and Africa's foremost trade community since 2014, while steadily climbing the global ranks. In merchandise trade, the UAE placed 11th in exports and 14th in imports in 2024. It contributed 2.5% of global exports and 2.2% of imports, reflecting a robust trading ecosystem that bridges major global markets. The services sector also delivered notable gains. From 2014 to 2024, the UAE rose to 13th globally in service exports. Service transactions in 2024 totaled AED1.036 trillion, of which AED646.6 billion were exports. The...
Post a Comment
Read more