UAE gives top priority to signing CEPA with Vietnam

Prime Minister Pham Minh Chinh hosted a reception on June 14 in Hanoi for UAE Minister Nahyan who is on a working visit to Vietnam.

At the function, PM Chinh welcomed the UAE Foreign Minister's visit to the nation and expressed great appreciation for the exciting exchange of delegations between the two countries in recent times, especially the recent visit in May to the UAE made by Vietnamese Vice President Vo Thi Anh Xuan which achieved many important results.

The two sides agreed to assess the friendship and co-operation between the two sides over recent times which has had positive developments across a multitude of fields such as politics - diplomacy, economics - trade, investment, tourism, and energy.

As part of the occasion, the Vietnamese Government chief thanked the UAE Vice President and Prime Minister for their letters, inviting him to visit the Arab State, while simultaneously conveying the invitation to visit Vietnam made by President Vo Van Thuong to the UAE President.

PM Chinh invited his UAE counterpart to visit Vietnam soon to discuss a wide range of specific measures aimed at further tightening the solidarity, friendship, and all-around ties between the two countries.

In the lead up to the 30th anniversary of both nations’ diplomatic relations, the Vietnamese cabinet leader suggested that both sides actively co-ordinate and support each other at international and regional forums, especially within the framework of the UN. This is along with jointly organising cultural and sports exchange activities, including Vietnam Culture Day in the UAE as a means of contributing to deepening mutual understanding between the two peoples.

Regarding economic linkages, PM Chinh stated that with the great potential for economic and trade co-operation between the two sides, it is necessary to complete the negotiation on the CEPA between Vietnam and the UAE as soon as possible.

He therefore requested that the UAE support Vietnam in developing the Halal industry and services, investing in the production of Halal products and building co-operation mechanisms on Halal certification in Vietnam, thereby contributing to increasing trade exchange turnover between the two countries.

In terms of investment, PM Chinh outlined that Vietnam encourages businesses and the Investment Fund of the UAE to invest and transfer technology in areas of mutual interest, such as logistics, real estate, services, infrastructure, and innovation.

Appreciating the position of the Arab State as a financial centre, along with the success of the UAE in economic restructuring and development of science and technology, the Vietnamese Government leader suggested that the UAE share its experience and support Vietnam in developing itself as an international financial centre. This is along with boosting its innovation network connectivity, energy transformation, environmental protection, and natural resource management.

Vietnam therefore welcomes the UAE to host the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), adding that the country is ready to co-operate with the UAE to ensure the success of the event.

Upon addressing the meeting, UAE Foreign Minister Nahyan expressed his delight at making his third visit to Vietnam.

The UAE diplomat affirmed that high-ranking leaders of his country always view Vietnam an important partner in Asia-Pacific. UAE financiers and businesses greatly value investment opportunities and environment in the Vietnamese market, whilst desiring to augment ties with the country in trade and investment, particularly in renewable energy, he told his host.

The official noted that signing the CEPA is the UAE’s top priority in terms of developing co-operation with Vietnam in order to create breakthroughs in economic and investment collaboration.
Aside from trade and investment, both nations should boost linkages in other important fields such as renewable energy, climate change response, sustainable development, environmental protection, and people-to-people exchanges, he said.

Hailing contributions made by Vietnamese guest workers to the UAE’s development, the UAE diplomat voiced his hope that the two countries will bolster co-operation to bring more Vietnamese skilled labourers to the UAE in the future.

He pledged to closely co-ordinate with Vietnam in carrying out proposals effectively, especially in the areas mentioned by PM Chinh.