Vietnam enjoys trade surplus of US$3 billion with UAE
VOV.VN - Vietnam recorded a trade surplus of approximately US$3 billion with the United Arab Emirates (UAE), with total two-way trade turnover between the two countries during the past eight months of the year reaching VND3.3 billion, according to the Vietnam Trade Office in the UAE.
Despite these strong figures, the trade office has advised Vietnamese enterprises to develop an appropriate export strategy to the UAE market in order to boost exports in a sustainable manner.
Experts assessed that the UAE is an open market featuring the involvement of several competitors, adding that food and beverage products and other items require Halal certification before exporting to the Islamic country.
Most notably, experts recommended that enterprises clearly verify their partners before conducting business in this market, with a specific focus on payment methods to avoid trade fraud.
The Vietnam Trade Office in the UAE therefore proposed organising large-scale trade and investment forums, as well as trade fairs in Dubai, in a bid to introduce Vietnamese goods to the UAE, which can serve as the gateway to promote exports to the Middle East and Africa.
