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Tue 9 Jul 2019 12:02 PM

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UAE-Vietnam bilateral trade targeted to hit $10bn

Trade between the two countries reached $6.3 billion in 2017

UAE-Vietnam bilateral trade targeted to hit $10bn
The UAE is among Vietnam’s leading trade and investment partners in the Middle East, with bilateral trade rising from $5.2bn in 2014 to $6.3bn in 2017.

Discussions have taken place to lift bilateral trade turnover between the UAE and Vietnam to $10bn.

During a visit to the UAE, Vietnam Deputy Prime Minister Trinh Dinh Dung, said the positive economic cooperation between the two countries could be strengthened with further ties in trade, investment, energy (oil and gas and renewable energy), infrastructure development, tourism and labour.

The UAE is among Vietnam’s leading trade and investment partners in the Middle East, with bilateral trade rising from $5.2bn in 2014 to $6.3bn in 2017, according to a report in Vietnam News.

The country is also Vietnam’s seventh largest export market, with products such as mobile phones, computers, electrical products, pepper, seafood, footwear, textiles, cashew nuts, rice, tea, fruit and vegetables and furniture, regularly shipped to the UAE.

The report said the Vietnamese Deputy Prime Minister met with UAE Minister of State Sultan Bin Ahmed Al Jaber and Minister of Energy and Industry Suhail Mohammed Faraj Al Mazroui.