Chính Urges Swift Conclusion of Vietnam-UAE CEPA Negotiations

Hanoi, The Gulf Observer: Vietnam’s Prime Minister Phạm Minh Chính has called for the early conclusion of negotiations on the Vietnam-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA). The call was made during a reception on Monday for UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, and leaders from 19 major UAE corporations in sectors such as logistics, energy, minerals, food, investment funds, finance, and banking.

Welcoming the UAE delegation, Prime Minister Chính praised the progress made in CEPA negotiations, recognizing Minister Al Zeyoudi’s significant role as the UAE’s chief negotiator. The Prime Minister also congratulated the UAE on its remarkable economic achievements, expressing Vietnam’s keen interest in learning from the UAE’s experiences.

Highlighting the importance of the multifaceted friendship between the two nations, Prime Minister Chính noted that the UAE is one of Vietnam’s leading economic partners in the Middle East. Both sides expressed satisfaction with the recent positive developments in their bilateral ties, marked by regular exchanges of high-level delegations and a robust increase in two-way trade, which reached nearly US$4 billion in the first seven months of this year, a 47% year-on-year increase.

The Prime Minister and the UAE delegation reaffirmed their commitment to strengthening comprehensive cooperation and finalizing the CEPA. Prime Minister Chính suggested exploring tariff reductions on certain goods to leverage the complementary strengths of both economies, with the goal of achieving a two-way trade target of $10 billion.

Further, Prime Minister Chính emphasized the importance of cooperation in energy, oil, and gas sectors, and called for enhanced collaboration in the Halal food industry. He encouraged the UAE to support the establishment of an international financial center in Ho Chi Minh City and to invest in various other sectors.

To deepen bilateral relations, Prime Minister Chính proposed easing visa requirements, launching direct flights, and increasing cooperation in areas such as labor, culture, sports, tourism, and people-to-people exchanges. He also assured that Việt Nam would continue to train human resources to meet the UAE’s needs.

In addition, Prime Minister Chính positioned Vietnam as a strategic bridge for the UAE to strengthen cooperation with the Association of Southeast Asian Nations (ASEAN) and highlighted the UAE as a gateway for Vietnam to enhance its ties with the Middle East.

Minister Al Zeyoudi provided updates on the ongoing CEPA negotiations, assuring that UAE ministries and agencies are actively collaborating with their Vietnamese counterparts to finalize and sign the agreement. He also expressed the UAE’s interest in collaborating with Vietnamese firms in producing and processing Halal food, and announced plans to establish a council of business cooperation with Vietnam to deepen and enhance the effectiveness of their trade and investment relations.