The fifth meeting of the Vietnam-United Arab Emirates (UAE) Inter-Governmental Committee was held in Hanoi on Sunday, under the co-chairmanship of Vietnamese Minister of Industry and Trade Nguyen Hong Dien and the UAE’s Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.

Speaking at the meeting, Dien underlined the importance of the event, which coincided with the 30th anniversary of diplomatic ties between the two nations. 

Given their good diplomatic and political relations, the two countries have witnessed their economic and trade ties grow over time and generate fruitful outcomes, Dien said.

Ahmed Al Zeyoudi stated that the UAE government considers Vietnam an important partner in the Asia-Pacific region and hopes to tighten cooperation with the Southeast Asian nation in all fields.

The UAE official suggested both sides continue adopting measures to beef up their friendship and multifaceted cooperation in the years ahead.

Both sides at the meeting reviewed the outcomes of their bilateral cooperation since the fourth meeting held in 2019 as well as discussed issues of mutual concern and measures to boost their bilateral cooperation in various fields.

Regarding their political and diplomatic ties over the past three decades, both sides have maintained close cooperation and supported each other at multilateral forums and international organizations.

Bilateral trade has stayed at US$5 billion per year since 2019, allowing Vietnam to position itself among the UAE’s top 10 largest trade partners and the UAE to rank among Vietnam’s biggest trade partners in the Middle East region.

Also, there is much room left for both nations to expand cooperation, especially when they are actively promoting negotiations toward the signing of a comprehensive economic partnership agreement.

As of August this year, the UAE ranked 43rd among the 148 countries and territories pouring investment into Vietnam.

Investors from the UAE have executed 38 projects in Vietnam, with a total pledged capital of over $71 million.

Meanwhile, there are five active projects implemented by Vietnamese firms in the UAE, with a combined registered capital of more than $1.8 million.

Their cooperation in other fields, such as security, logistics and transport, information and communications, education and training, human resources, culture, and tourism have witnessed positive outcomes as well.

Both sides also discussed and agreed to facilitate the exchange of delegations at all levels, especially high-level ones, and continue supporting each other at multilateral forums and international organizations.

They underlined the need to jointly review and complete the legal framework for cooperation such as the comprehensive economic agreement, the agreement on cooperation and mutual support in customs, the agreement on extradition, and the agreement on transfer of sentenced persons.

Besides, they must also take into account investment and cooperation opportunities in such fields as chemical production, fertilizer, textiles and footwear, electronics and mechanics, automobiles, and energy.

Furthermore, both sides will call on and create optimal conditions for investors from the two countries to establish cooperation in telecommunications, digital transformation, logistics, culture, and tourism.

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