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Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, tweeted on Thursday that the United Arab Emirates and Vietnam have agreed to start negotiations on a comprehensive economic partnership agreement.
Today, Nguyen Hong Dian, #VietnamThe Minister of Industry and Trade and I agreed to launch negotiations on a comprehensive economic partnership agreement to forge an important new alliance in the heart of Southeast Asia. 🇦🇪🇻🇳 pic.twitter.com/oR0WBZrDTi
– Dr. Thani Al Zeyoudi (@ThaniAlZeyoudi) April 6, 2023
“This is a partnership with great potential: bilateral non-oil trade will total $7.9 billion in 2022. CEPA will accelerate these numbers and create new opportunities for exporters and investors in agriculture, energy, technology and logistics,” Al Zeyoudi added.
In 2021, the UAE will export US$1.05 billion to Vietnam. The main UAE exports to Vietnam were broadcasting equipment worth US$156 million, petroleum gas (US$146 million) and ethylene polymers (US$104 million). Over the past 21 years, the UAE’s exports to Vietnam have grown at an annual rate of 26.3%, from US$7.81 million in 2000 to US$1.05 billion in 2021. In 2021, the United Arab Emirates did not export any services to Vietnam.
In the same year, Vietnam exported US$5.47 billion to the United Arab Emirates. Vietnam’s main exports to the United Arab Emirates were broadcasting equipment (US$3.77 billion), computers (US$235 million) and textile footwear (US$85.2 million). Over the past 21 years, Vietnam’s exports to the United Arab Emirates have grown at an average annual rate of 29.9%, from US$22.6 million in 2000 to US$5.47 billion in 2021.
In 2021, Vietnam did not export any services to the United Arab Emirates.
source:
Reuters
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