On the occasion the Forum on Economic Cooperation between Vietnam and
partners from the Middle East and North Africa to be organised on
November 4-5, Vietnam Business Forum introduces an article by Ahmed Ali
Almualla, Ambassador of the United Arab Emirates to Vietnam.
Bilateral relations to be diversified
We are delighted at the distinguished record of active cooperation
ever since we established diplomatic relations in 1993. Today, our two
countries have continued an effective cooperation in politics, trade,
investment, culture, education and labour, as well as reinforced
high-ranking visits and friendly exchanges.
Additionally, many investment and trade promotion delegations between
the two countries have been underway over the last time. Both UAE and
Vietnam always stand to support and coordinate with each other in
international forums. We share a common point of view of international
issues, regional security.
Bilateral trade turnover
has rapidly increased over the past 10 years from 67 million USD in 2002
to more than 2.4 billion USD in 2012. During the first quarters of
2013, the bilateral trade was estimated about 3.4 billion USD. It is
therefore predicted to reach over 4 billion USD for the whole year 2013.
Vietnam has often a trade surplus with UAE. So far, the UAE has become
the leading market for Vietnam’s exports in the Middle East and North
Africa, and is acknowledged as one of the top ten trade partners of
Vietnam. Meanwhile, the UAE has invested extensively in Vietnam through
many projects. The UAE’s companies also accept a large number of
employees of Vietnam who play a major role in the development of the UAE
and we look forward to increasing the number in the coming years.
Recently, the launch of direct flights Dubai – Ho Chi Minh City by
Emirates Airlines in 2012 and Abu Dhabi – Ho Chi Minh City by Etihad
Airways in 2013 – the two of the world’s fastest growing airlines, have
expanded their global network with daily service between UAE – Vietnam
that has contributed further the development of trade, investment and
tourism between the two countries. Indeed, our direct flights have met
the travel demand for tourism and business purposes as well as cargo
transportation between Vietnam’s bustling trade hub of Ho Chi Minh City
and the UAE, the Middle East and the EU.
UAE – potential market for Vietnamese enterprises
With its strategic location, comprehensive infrastructure, more than
30 state-of-the-art free zones throughout the country and open economy
policies to attract foreign investment, the UAE is the second biggest
economy in the Middle East and also plays an important role in the
region’s business and economic affairs.
Besides Abu Dhabi,
Dubai is not only a big consumption market, but also an important
re-export centre for other countries in the region as well as the third
biggest re-export centre globally. The Emirate takes up 75 percent of
total imports of the UAE, Dubai takes up 82 percent of non-oil exports
of the UAE, Dubai accounts for 78 percent of total re-exports of the UAE
to other Arab countries and the MENA markets.
Every
year, a large number of international exhibitions and trade fairs are
held in Dubai, which are good opportunities for Vietnamese businesses to
look for UAE partners. We look forward more Vietnamese companies to
participate in the fairs and exhibitions i.e. Gulfood, Index, Big 5,
Dubai Seafood, Autumn Fairs, Garment and Textile Exhibition, Annual
Festival for Global Village, Dubai Rice, etc.
More
than 25 percent of the world’s top 500 companies currently base their
regional headquarters and trade centres in the Emirate, a testament to
the important role played by our country in the region’s business and
economic affairs.
I think the Vietnamese Whole-sale
Trade Centre established recently in Dubai in line with the Vietnam
export strategy to 2020 that will be a venue to showcase Vietnamese
products and organise workshops and seminars where Vietnamese companies
can sign big export contracts. The centre is located near Dubai seaport
which handles large volumes of goods shipped to the Middle East. The
Middle East is a promising market, especially for agricultural products,
since there is a population of more than 210 million while 60 percent
of the food needs are imported.
In my opinion, the
centre should showcase agro-forestry and fisheries products and
furniture, textile and garments, products which UAE has high demand for,
and which are prevalent in Vietnam.
Strengthening private sector cooperation
The activities of trade promotion agencies and the private sector of
both sides should be strengthened further with a view to activate the
agreed minutes after the first session of the Joint Committee for
Cooperation between Vietnam and the UAE.
I am pleased
to know that many companies from the UAE want to participate in trade
fairs and exhibitions held in Ho Chi Minh City and Hanoi, like Vietnam
Expo as well as Vietnam companies to attend international trade fairs in
the UAE over the last time. After that, many business contracts and
deals can be signed between with the private companies of both sides.
Over the last time, Vietnamese businesses highly
appreciated the initiative by UAE Embassy in coordination with the
Vietnam Chamber of Commerce and Industry (VCCI) to successfully organise
the seminar on UAE-Vietnam Trade and Investment Cooperation
Opportunities in three big cities of Vietnam, especially in the context
of Vietnam strengthening its cooperation with other countries in the
Middle East and North Africa. Hopefully, more seminars and forums like
this will be held in both countries to boost trade and investment in the
coming time.-VNA