Page 319 - MOE ENGLISH PR REPORT - AUGUST 2024

8/27/24, 1:51 PM Al Zeyoudi meets Vietnamese Prime Minister during visit to Hanoi
to discuss how to expand bilateral non-oil trade, which reached US$6.1 billion in the first half of
2024, with growth of nine percent and 34 percent compared to the corresponding period in 2023 and
2022, and solidifying Vietnam's status as the UAE's leading trade partner in the Association of
Southeast Asian Nations (ASEAN) region.

The two sides also reviewed progress towards a Comprehensive Economic Partnership Agreement,

which will, once concluded and implemented, accelerate trade and investment flows by removing
tariffs, simplifying customs procedures and improving market access for services exporters.
Al Zeyoudi also discussed the far-reaching benefits of the CEPA throughout talks with Nguyen Ba
Hoan, Deputy Minister of Labour - Invalids and Social Affairs, and Tran Thanh Nam, Deputy

Minister of Agriculture and Rural Development, during which they discussed the potential for joint
ventures and partnerships in these critical sectors.
Following the visit, Al Zeyoudi expressed his optimism about the future of UAE-Vietnam ties and
the benefits of greater exchange with the ASEAN community as a whole. "The meetings this week

underscore the value of our relationship with Vietnam, a long-standing and strategically important
partner in a high-growth region. Our nations both understand the benefits of closer cooperation and
more open trade, and there is a clear desire to work collaboratively across all economic sectors. We
are particularly excited about the opportunities in agriculture, manufacturing and energy, while our

investors see the vast potential in the country's infrastructure, logistics, tourism and real estate
development. Vietnam's pro-growth policies align closely with our own and the many constructive
conversations we have enjoyed here point the way to a prosperous future for us both," he added.
The high-level UAE delegation accompanying Zeyoudi included government representatives

Mohamad Abdulrahman Al Hawi, Undersecretary of the Ministry of Economy; Ahmed Khalifa Al
Qubaisi, CEO of the Abu Dhabi Chamber of Commerce and Industry; Abdalla Sultan Al Owais,
Chairman of the Sharjah Chamber of Commerce and Industry. In addition, the delegation included
senior representatives from private sector companies including Abu Dhabi Investment Authority,

Abu Dhabi Fund for Development, Mubadala Investment, Abu Dhabi National Oil Company
(ADNOC), Abu Dhabi Ports Group, DP World, Etihad Airways, Emirates Airline, Emirates Global
Aluminium, LuLu Group International, Agthia Group, Al Ghurair Foods LLC, Githa Holding and
Al Dahra Group.

The ASEAN region is an increasingly important one for the UAE, sharing US$15.3 billion in trade
in H1 2023 and representing 5.2 percent of the UAE's total non-oil foreign trade. The UAE has now

signed and implemented Comprehensive Economic Partnership Agreements with Indonesia and
Cambodia, both key ASEAN nations.

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