Vietnam Aims to Add UAE to Its 10 Biggest Export Markets

Prime Minister Nguyen Tan Dung told 400 firms of Vietnam and the United Arab Emirates who attended a biz conference on February 17 that the government wants to add UAE to its list of ten biggest export markets from its top 25 now.

 

Bilateral cooperation between Vietnam and UAE is in a wide range of trade, investment and labor, and the bilateral trade jumped fast to US$550 million last year from US$67 million in 2002, however, those fruits are not on par with the two countries' potentials, PM Dung said.

 

During his trip to UAE, the first visit by a prime minister to UAE, the two sides discussed measures and signed deals to further expand bilateral investment and trade, Mr Dung noted.

 

The deals included a pact on investment incentives and protection, an agreement on tax double avoidance, a deal on setup of the inter-governmental committee, deals with foreign ministries, he added.

 

All these moves will pave the way for UAE investors to get involved in building highways, airports, seaports, oil refining industries.

 

On this occasion, Mr Dung also witnessed signing a deal between Vietnam's Quang Ninh provincial authorities adn UAE's Limitless Co in surveying, planning ponds of Mac dynasty and raising Ha Long Star project's capital to US$550 million from US$220 million. (The People, Labor)