Vietnam - UAE: Soon to sign Comprehensive Economic Partnership Agreement

On December 2, on the occasion of attending the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), Prime Minister Pham Minh Chinh met with UAE Vice President Sheikh Mansour bin Zayed Al Nahyan.

At the reception, Prime Minister Pham Minh Chinh expressed his pleasure to visit the UAE on the occasion of the 30th anniversary of diplomatic relations (1993 - 2023), highly appreciated the professional organization of the host country UAE, which contributed significantly to the success of the COP28 Conference, thereby affirming the role and position of the UAE in the world.

In order to create a breakthrough for the multifaceted cooperation between Vietnam and the UAE, the Prime Minister suggested that both sides continue to promote delegation exchanges, especially high-level delegations. On this occasion, the Prime Minister conveyed the invitation of General Secretary Nguyen Phu Trong andPresident Vo Van Thuong and expressed his hope to welcome the President and Vice President of the UAE to visit Vietnam in the near future.

The UAE Vice President welcomed and highly appreciated Prime Minister Pham Minh Chinh's visit to the UAE and his attendance at the COP28 Conference, affirming that the visit, along with the previous visit of Vice President Vo Thi Anh Xuan (May 2023), is of great significance in promoting the friendship and multifaceted cooperation between the two countries. The UAE Vice President affirmed that the UAE attaches great importance to strengthening cooperation with Vietnam, and identified Vietnam as a very potential investment market, especially in the fields of renewable energy, digital transformation, infrastructure, logistics, seaports, data centers, etc.

On that basis, the two sides agreed to promote negotiations and soon sign the Comprehensive Economic Partnership Agreement (CEPA), thereby expanding and enhancing economic and trade exchanges and cooperation. Regarding investment cooperation, in addition to the areas of interest of the UAE, Prime Minister Pham Minh Chinh suggested that the UAE increase investment and support Vietnam in building and operating the International Financial Center in Ho Chi Minh City, the National Innovation Center (NIC), developing smart cities, implementing renewable energy projects, developing the Halal industry, etc.

To implement the commitments between the senior leaders and create breakthroughs in economic cooperation, the Prime Minister proposed that the two sides soon establish a joint working group in the economic and investment fields. The UAE Vice President welcomed the proposal of Prime Minister Pham Minh Chinh and said that he would soon send a delegation of leaders from the Ministry of Investment and UAE businesses to Vietnam to survey the market and discuss specific implementation plans.

In addition, the two sides also discussed the possibility of promoting cooperation in other potential areas. Regarding labor, the UAE Vice President said he wished to receive more Vietnamese workers to work in the UAE in the coming time, and support Vietnam in vocational training for workers. The two sides agreed to promote aviation cooperation, consider increasing the frequency of flights between the two countries to promote tourist attraction; strengthen cooperation and sports exchanges, in which the UAE will support Vietnam in establishing a youth football training academy in the coming time; and strengthen security and defense cooperation, including the field of officer training./.

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