This is the first visit to the UAE by a Vietnamese Prime Minister since the two countries established diplomatic ties in 1993.

The visit aims to further strengthen the friendship and multi-faceted cooperation between Vietnam and the UAE, particularly in economics, investment and trade, as well as in other areas of strength such as energy, labour, finance, banking and agriculture.

The UAE is a monarchial federation comprising seven states, called emirates, namely Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. Situated on the eastern part of the Arabian peninsula, it borders Qatar in the north, the Arab Gulf in the east, Saudi Arabia in the west and Oman in the south.

As one of the leading economies among the Arab world, the UAE has huge oil reserves of 98 billion barrels, making up 10 percent of global reserves. Its natural gas reserves amount to 5,892 billion cubic metres, ranking fourth after Russia, Iran and Qatar. It is also a leading financial and trade centre in the Middle East.

The UAE ranks 17th out of the 61 global competitive economies, 8th among the leading global air service providers and second among regional tourism service providers. It mostly exports crude oil, gas, dried fish and dates, and imports machinery, transport equipment, chemicals and food. In 2008, its exports hit US$207.7 billion, of which 45 percent was generated from crude oil exports.

Relations between Vietnam and the UAE have expanded in many areas following the opening of embassies in their capital cities. They have conducted several high-level visits, including one to the UAE in June 2006 by State Vice President Truong My Hoa and one to Vietnam in September 2007 by Vice President and Prime Minister, Sheikh Mohammed bin Rashid Al Maktoum.

Since Vietnam opened a trade centre in Dubai in July 2004, two-way trade between the two nations has grown and flourished, reaching US$350 million in 2007 and US$500 million in 2008.

They have signed a number of key cooperation pacts, including a framework agreement on economic, scientific-technological and trade cooperation in October 1999, an aviation cooperation agreement in May 2001 and a memorandum of understanding on industrial cooperation and development in September 2007.

UAE investments in Vietnam have also increased considerably, with several projects being implemented or explored, such as those to build a tourist resort in Hoi An City and a five-star hotel in Ha Long City.