Thani Al Zeyoudi Vietnam Business Council Trade Agreement
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UAE and Vietnam Strengthen Economic Ties, Aim for Increased Trade and Investment
Table of Contents
The United Arab Emirates (UAE) is actively working to deepen its economic relationship with Vietnam, focusing on expanding bilateral trade and attracting investment to bolster Vietnam’s industrial progress. This effort is underpinned by the recently implemented Comprehensive Economic Partnership Agreement (CEPA) between the two nations.
Expanding Trade Through the CEPA
His Excellency emphasized the mutual commitment to growth, stating that the CEPA is designed to create new export markets and improve access to global supply chains. He highlighted the importance of both countries actively building connections to maximize the agreement’s potential, noting existing strong foundations from ongoing bilateral exchange. The focus is now on fostering opportunities for investors, entrepreneurs, and businesses.
“Both the UAE and Vietnam are dedicated to achieving mutual growth by expanding opportunities for our private sectors. Our CEPA has been designed to open up new markets for our exporters and increase access to global supply chains, and it is incumbent on both nations to build the connections to fully leverage its potential.We have strong foundations to build on, with our business communities already benefitting from extensive bilateral exchange, and we are now well placed to develop a broad range of new opportunities for investors, entrepreneurs and businesses,” His Excellency said.
Strategic Investments in Vietnam’s Infrastructure
Collaboration is already yielding tangible results, particularly in Vietnam’s logistics sector. The UAE is supporting key infrastructure projects, including the Saigon Premier Container Terminal in ho Chi Minh City and the development of new cargo services throughout the Mekong Delta. These investments are intended to drive further economic growth and prosperity in Vietnam.
“We are already seeing the benefits of close collaboration,” HE added. “From supporting Vietnam’s logistics infrastructure, including Saigon’s Premier Container Terminal in Ho Chi Minh City and new cargo services across the Mekong Delta, we have set a course for further growth and greater prosperity – and look forward to adding to these key investments in the months and years ahead.”
UAE-ASEAN Trade Growth
The UAE’s economic engagement with the Association of Southeast Asian Nations (ASEAN) is robust, with CEPA agreements now in place with Indonesia, Cambodia, Malaysia, and Vietnam. This has substantially boosted the UAE’s non-oil foreign trade with ASEAN countries. In 2024, this trade reached US$37.7 billion, representing a 4.2% increase from 2023 and a substantial 16.8% growth compared to 2022.
ASEAN nations currently account for 4.6% of the UAE’s total non-oil trade globally and 11.3% of its trade with non-Arab Asian countries. This demonstrates the increasing importance of the ASEAN region to the UAE’s trade strategy.
| Year | UAE Non-Oil Trade with ASEAN (US$ Billions) | Year-over-Year Growth |
|---|---|---|
| 2022 | 32.3 | N/A |
| 2023 | 36.2 | 12.1% |
| 2024 | 37.7 | 4.2% |