The Multilateral Trade Policy Department (Ministry of Industry and Trade), said on April 6, 2023, within the framework of the mission program to visit and work in the United Arab Emirates (UAE), Minister The Ministry of Industry and Trade Nguyen Hong Dien had a working session with Dr. Thani bin Ahmed Al Zeyoudi, Secretary of State in charge of International Trade, UAE Ministry of Foreign Trade.
At the meeting, Minister Nguyen Hong Dien affirmed that the UAE is Vietnam’s largest trading partner in the Middle East – North Africa region, but there is still plenty of room to further promote the potential of the two capital economies. have complementary strengths.
Minister Nguyen Hong Dien suggested the two sides strengthen the exchange of delegations at all levels and business delegations to explore cooperation opportunities, especially cooperation in the field of trade and investment.
At the same time, he proposed the management agencies of Vietnam and the UAE to study and promote the establishment of a cooperation mechanism for Halal certification to facilitate import and export of agricultural products between the two countries.
In addition, the Vietnamese side also asked the UAE to support the Vietnamese Ministry of Industry and Trade in implementing trade promotion programs, weekly Vietnamese goods in the UAE, connecting with the distribution system in the UAE…
Regarding the orientation of negotiating a bilateral free trade agreement called the Comprehensive Economic Partnership Agreement between Vietnam and the UAE (CEPA), Minister Nguyen Hong Dien highly appreciated the potential and opportunities from the Agreement. This is for both countries.
According to Minister Nguyen Hong Dien, while Vietnam is becoming a factory for many important industries in the region and the world, the UAE has many strengths as a transshipment port and financial center and logistics. Therefore, combining the strengths of the two sides will create momentum for trade and investment growth in the coming time.
Notifying the UAE, the leader of the Ministry of Industry and Trade said that Vietnam has completed a feasibility study on the possibility of negotiating the Agreement, which is an important basis for deciding to start negotiations soon.
Vietnam highly appreciates the technical assistance of the two sides for immediately starting the discussion on the draft terms of reference (TOR) of this Agreement so that it can immediately begin the substantive negotiation phase when the policy negotiations approved by the leaders of the two sides.
Minister Nguyen Hong Dien announced the policy of the Party and Government of Vietnam on promoting deep economic integration, including the negotiation and signing of free trade agreements to remove barriers. for trade and investment, creating practical benefits for businesses and people.
Therefore, it is expected that as soon as the technical level of the two countries has agreed on the terms of reference (TOR) document and this document is approved by the competent authorities, the two sides can start negotiations with the goal of ending the negotiations. and put the Agreement into effect as soon as possible.
Dr. Thani bin Ahmed Al Zeyoudi agreed with the proposals of Minister Nguyen Hong Dien, and said that the UAE very much wants to strengthen economic cooperation with Vietnam and always considers Vietnam an important partner in economy and trade. has a lot of potential and room for cooperation. The UAE’s top leadership has also given the necessary instructions on starting negotiations as soon as Vietnam can complete domestic procedures.
“This Agreement is also of great interest to businesses in the UAE due to the impetus that the Agreement can bring to the enhancement of economic cooperation and trade on the basis of mutual benefits,” said Dr. Thani. bin Ahmed Al Zeyoudi commented.
Therefore, not only the Ministry of Foreign Trade and many ministries and sectors in charge of fields such as energy, industry and logistics services of the UAE have voiced support for the negotiation, signing and inclusion of the CEPA Agreement. enforcement.
In that spirit, Minister Nguyen Hong Dien and Dr. Thani bin Ahmed Al Zeyoudi signed the Ministerial Declaration on the launch of CEPA negotiations right after Vietnam completed domestic procedures.
