Page 227 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 3:20 PM UAE-Vietnam CEPA marks substantial advancement within broader strategy to fortify Emirates' global economic partnerships: Mini…
DUBAI, 28th October, 2024 (WAM) --UAE government ministers and officials,

alongside top executives from local entities, have underscored the importance of the

Comprehensive Economic Partnership Agreement (CEPA) with the Socialist

Republic of Vietnam. They have noted that this CEPA marks a substantial

advancement within the UAE's broader strategy to fortify its global economic

partnerships. Vietnam, recognised as a strategic partner and a leading economic

power in Asia, is a key component of this endeavour.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, said: "With the

signing of the Comprehensive Economic Partnership Agreement between the UAE

and Vietnam, we are opening new paths for economic cooperation that will benefit

both countries. By removing trade barriers and improving market access, this

agreement will not only boost bilateral trade but also create new investment

opportunities, supporting growth, diversification, and solidifying our position as a

global hub for trade and investment."

Suhail bin Mohammed Faraj Al Mazrouei, Minister of Energy and Infrastructure,

stated: "The Comprehensive Economic Partnership Agreement with Vietnam opens

new horizons for joint cooperation in the energy and infrastructure sectors, which

are key sectors for long-term development for both countries. Vietnam's growing

renewable energy sector offers significant opportunities for UAE expertise and

investments, as in 2023, the country produced 69% of the total solar and wind

energy generated by ASEAN nations, highlighting its importance for the region's

energy transition ambitions."

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology,

said: "The Comprehensive Economic Partnership Agreement between the UAE and

Vietnam aligns with the UAE leadership's vision of enhancing communication and

cooperation and expanding global partnerships. It contributes to economic

diversification and growth, expanding the UAE's network of trade and investment

partners worldwide. This agreement also enhances the access of UAE industrial

https://www.bignewsnetwork.com/news/274736492/uae-vietnam-cepa-marks-substantial-advancement-within-broader-strategy-to-fortify-emirates-glob… 2/5