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| Prime Minister Pham Minh Chinh received United Arab Emirates (UAE) Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan. (Source: VNA) |
During the visit, UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan greeted Prime Minister Pham Minh Chinh, held talks with Foreign Minister Bui Thanh Son, and signed a Memorandum of Understanding on cooperation between the Diplomatic Academies of the two countries.
Important partner in Southeast Asia
It can be affirmed that the vibrant delegation exchange activities between the two countries in recent times are clear evidence of the development momentum in bilateral relations.
The UAE has repeatedly emphasized its desire to strengthen relations with Vietnam and considers Vietnam one of its important partners in the Southeast Asian region. The friendship and multifaceted cooperation between Vietnam and the UAE since the second political consultation between the two foreign ministries (February 2023), especially in potential areas such as politics - diplomacy, economics - trade, investment, oil and gas, renewable energy, tourism, etc., have seen positive changes.
On that basis, on this occasion, the two sides agreed on measures and plans that the two countries need to coordinate to implement to continue exploiting the great potential in bilateral cooperation.
Specifically, the two sides agreed to strengthen the focal role of the two Foreign Ministries, exchange delegations at all levels, especially high-level delegations to create breakthroughs for cooperation; actively coordinate and support each other at multilateral forums; improve the effectiveness of the Political Consultation mechanism between the two Foreign Ministries; promote the role of Vietnam and the UAE in the relationship between ASEAN and the Gulf Cooperation Council (GCC); especially strongly promote economic-trade and investment cooperation...
Vietnam welcomes the UAE to host the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), emphasizing that it will actively coordinate with the UAE as well as other member countries participating in the Convention, for the success of COP28.
On the occasion of the 30th anniversary of diplomatic relations, the two sides agreed to coordinate in organizing cultural and sports exchange activities, including "Vietnam Cultural Day in the UAE", contributing to enhancing mutual understanding between the people of the two countries.
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| Foreign Minister Bui Thanh Son welcomed UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan. (Photo: Tuan Anh) |
Comprehensive Economic Partnership Agreement - Top Priority
Promoting the early completion of negotiations and signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2023 is a highlight within the framework of the visit, demonstrating the great determination of both sides to create a breakthrough for economic cooperation. During the discussions, Minister Abdullah bin Zayed Al Nahyan affirmed that signing the CEPA is the UAE's top priority in cooperation with Vietnam.
Why is CEPA so expected? CEPA will include preferential provisions on trade and investment, serving as a legal basis for the development of solid international economic relations between the UAE and other countries. When signed, CEPA between the two countries will be an important milestone, opening a new phase of comprehensive cooperation, especially economic cooperation between Vietnam and the UAE.
The agreement will be a legal basis, creating a new foundation to further promote general cooperation in trade and investment between the two sides, by reducing or eliminating tariffs on many types of goods and services, creating favorable conditions for investment.
This creates new business opportunities, market access, and promotes FDI capital flows for the business communities of both countries. On June 5, Minister of Industry and Trade Nguyen Hong Dien and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for International Trade, Ministry of Economy of the UAE, announced the opening of the first round of CEPA negotiations in Hanoi during their visit to Vietnam from June 4-6.
Currently, in the field of investment, Vietnam encourages UAE enterprises and funds to invest and transfer technology in areas of mutual interest such as logistics, real estate, services, infrastructure, innovation, etc. In addition, Vietnam hopes that the UAE will share experiences and support the construction of an international financial center, connect innovation networks, energy conversion, environmental protection, natural resource management, etc.
The two sides are promoting enhanced cooperation in many other important areas of common interest such as renewable energy, climate change response, sustainable development, and environmental protection.
Immediately after the visit of Vice President Vo Thi Anh Xuan (May 2023), the UAE proactively promoted labor cooperation with an unprecedented proposal: Vietnam will send 100,000 skilled workers to work in the UAE in the near future.
Therefore, the UAE Foreign Minister also emphasized the field of labor cooperation this time. The Minister highly appreciated the contribution of Vietnamese workers to the development of the UAE and hoped that the two sides would strengthen cooperation to promote and soon bring more skilled Vietnamese workers to the UAE.
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| Foreign Minister Bui Thanh Son and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan held talks. (Photo: Tuan Anh) |
Halal “Meeting Point”
According to a report by the Dubai Center for Islamic Economic Development, in 2023, GCC countries imported 50 billion USD, Muslim countries around the world are expected to spend about 2.4 trillion USD on Halal products and continue to increase over time.
Currently, the UAE is the world's leading country in the Halal industry, and is also a center for international trade and exporting goods to the GCC markets and the Middle East and Africa.
Vietnam has abundant and diverse sources of food, foodstuffs and agricultural products, and a rapidly developing food processing industry. Therefore, “meeting” at the “intersection” of Halal will certainly bring great benefits to both sides.
Faced with such reality, within the framework of this visit, Vietnam proposed that the UAE support the development of the Halal industry and services, invest in the production of Halal products and build cooperation mechanisms on Halal certification in Vietnam, contributing to increasing trade turnover between the two countries.
According to Vietnamese Ambassador to the UAE Nguyen Manh Tuan, it is necessary to strengthen cooperation with the UAE in all areas of the Halal industry to boost exports. In the immediate future, Vietnam and the UAE need to promote negotiations to sign a bilateral cooperation agreement in the agricultural sector between the two countries (livestock, cultivation, fishing and processing).
Next, the two sides need to implement specific steps such as: Promoting the recognition of standards and practices in the field of accreditation, certification and assessment for Vietnamese units; cooperating with UAE Halal certification units to be able to provide useful input information for Vietnamese enterprises seeking to supply goods to the Halal market; and cooperating in the field of Halal human resource training to unify Halal standards and interpretations, build competent personnel to handle the entire value chain and ensure that there is harmonization of global Halal certification.
“We will closely coordinate with Vietnam to implement cooperation proposals in a practical and effective manner, especially in the fields and contents that Prime Minister Pham Minh Chinh has expressed his opinions on,” is the commitment made by Minister Abdullah bin Zayed Al Nahyan at the end of his greeting to Prime Minister Pham Minh Chinh. Returning to the UAE after his third visit to Vietnam, Minister Abdullah bin Zayed Al Nahyan will certainly pay attention to promoting the “topics” in cooperation with Vietnam, especially the “deadline” of CEPA.
| The UAE is currently Vietnam's largest trading partner in the Middle East-North Africa region. Bilateral trade turnover in 2022 reached 4.4 billion USD, of which Vietnam exported 3.8 billion USD to the UAE and imported 582.6 million USD from the UAE. Vietnam accounts for about 2.2% of the import market share in the UAE and the UAE accounts for about 0.2% of Vietnam's import market share. |
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