Bilateral Trade on the Rise: Vietnam PM

DUBAI - The UAE is an important and a prioritised partner of Vietnam in the Middle East, said Prime Minister Nguyen Tan Dung on Tuesday at UAE - Vietnam Business Forum.

By (Staff Report)

Published: Thu 19 Feb 2009, 12:27 AM

Last updated: Sun 5 Apr 2015, 10:24 PM

“I believe my visit to the UAE will open new prospects for co-operation and deepen our long-term trading relations. The initiatives and efforts of our two sides are all too evident and I hope that economic ties in the areas of investment, energy, labour, agriculture and many more will bring practical results and help our countries to overcome the current financial crisis,” he said.

He said bilateral trade between the two countries increased from $67 million in 2002 to $550 million in 2008 and last year it was double than 2007. The UAE is also 25th largest market for Vietnam, he added.

The prime minister said: “Vietnam and the UAE have developed in a dynamic and sable fashion. We have complementary strength to support each other. Therefore, the two countries should make use of the opportunities to accelerate our sustained growth. Vietnam has the demand to import crude oil, fuel chemical and fertiliser from the UAE. In turn, the UAE could be a consumption market and an important transit point for the exports of Vietnam like agricultural products, food, textile and garment, handicrafts and electronics.” For the UAE investors, the PM said, the government will create favourable conditions in terms of mechanism and policy for doing business in Vietnam.

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