UAE, Vietnam sign comprehensive economic partnership

The UAE and Vietnam have signed a comprehensive economic partnership agreement, which is set to open new avenues for cooperation.

It aims to improve access to global markets, simplify customs procedures and promote fair trade competition, benefiting sectors such as business, engineering, healthcare and tourism.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Vietnamese Prime Minister Pham Minh Chinh witnessed the signing of this major trade pact.

Sheikh Mohammed welcomed Pham Minh Chinh at Za’abeel Palace in Dubai, where they discussed strategies to strengthen bilateral partnership and provide a supportive environment for investors.

The Vietnamese Prime Minister expressed pride in the growing friendship and highlighted the vast potential for expanding cooperation. He reaffirmed Vietnam's commitment to strengthening ties as part of its international integration efforts.

Sheikh Mohammed noted that the UAE is Vietnam’s largest trading partner in the Middle East, with bilateral non-oil trade exceeding $12 billion last year, a 38% increase from the previous year.

He also expressed his appreciation for the strong progress in UAE-Vietnam relations, highlighting the shared commitment to mutual development and the historical ties established in 1993.

The two leaders also addressed regional and international developments, particularly recent events in the Middle East, and underscored the need for collective efforts to promote peace and development.

During the meeting, several agreements and memorandums of understanding (MoUs) were announced between the UAE and Vietnam to enhance cooperation in key sectors such as economy, investment, trade, government, education, scientific research and logistics.

. @HHShkMohd and Prime Minister of Vietnam discuss new avenues to enhance strategic bilateral cooperation. During the meeting at Za’abeel Palace, the two leaders witness the signing of a comprehensive economic partnership agreement between the UAE and Vietnam.… pic.twitter.com/fpqMUjikde

— Dubai Media Office (@DXBMediaOffice) October 28, 2024