Lubna: Boost Vietnam ties

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Sheikha Lubna said she wanted to see a significant increase in the flow of UAE products to Vietnam.

The UAE needs to strengthen bilateral ties with Vietnam through mutual investment opportunities, the UAE minister of economy said on Tuesday.

Speaking during a meeting with Vietnamese business leaders, Sheikha Lubna Al Qasimi called for greater cooperation between the two countries in the areas of healthcare, infrastructure, trade, investment and tourism.

“The UAE is keen to strengthen its economic ties with Vietnam, and a major step in this direction would be to seek mutual investment opportunities, increase trade exchange and establish joint projects leveraging the competitive advantages of both countries,” Sheikha Lubna said.

“The UAE and Vietnam had signed an agreement in 1999 aimed at greater economic and technological cooperation, and we wish to take this relationship to another level by working closely in several key areas such as healthcare, infrastructure, trade, investment and tourism, to bring maximum benefits to the people of both countries.”

Sheikha Lubna is currently on a two-day state visit to Vietnam with Sheikh Mohammad bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Rule of Dubai, and other delegates, aimed at increasing economic ties between the two countries.

The minister said in particular she wanted to see a significant increase in the flow of UAE products to Vietnam.

“Products manufactured in the UAE are comparable to those manufactured in any of the developed nations, both in terms of quality and price, and we are focused on promoting products made in the UAE to regional and international markets,” she added.

Sheikha Lubna also emphasised economic advantages the UAE could offer investors from the Southeast Asian country, highlighting sectors such as construction, food manufacturing, oil and gas, hospitality and tourism.

“We are confident that the Vietnamese business community will recognise the full potential of the UAE and make the most of the opportunities that the country has to offer in various sectors,” she said.

Ministry of Economy figures show that trade between UAE and Vietnam was more than $165 million in 2006, up 46% over the previous four years.

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