The Ministry of Industry and Trade of Vietnam and relevant ministries have met with the Ministry of Economy of the UAE to finalize the remaining contents in the negotiations of the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA).

The Vietnamese Ministry of Industry and Trade and relevant ministries meet with the Ministry of Economy of the UAE to finalize the remaining contents of the negotiations.

Currently, terms at the ministerial level have been agreed upon. Accordingly, the two ministries have agreed to report to the competent authorities of both countries on the results of the ministerial-level discussions to complete the entire negotiation process and officially sign the CEPA at the earliest.

According to the Ministry of Economy of the UAE, several major Vietnamese corporations are already taking the opportunities from the CEPA to start business investment activities in the UAE. Conversely, UAE investors are assessing the investment potential of several major projects in Vietnam.

In 2023, the UAE was the largest export market and the second-largest trading partner of Vietnam in West Asia.

In the first half of 2024, the Vietnam-UAE total trade exchange reached over US $3.2 billion, marking a 43% increase compared to the same period in 2023. Of this, Vietnam’s exports accounted for more than US $2.8 billion, up 47%, and imports reached over US $435 million, up 25%.

Regarding the structure of goods, Vietnam's main exports to the UAE include mobile phones, machinery, equipment, spare parts, computers and components, footwear, textiles, vehicles and parts, and agricultural products.

Vietnam's main imports from the UAE are petroleum products, liquefied petroleum gas (LPG), raw plastic materials, animal feed and raw materials, common metals, and chemicals.

The trade agreement between Vietnam and the UAE once signed and implemented, will open up significant opportunities for Vietnam's key products to access many other markets through the key transshipment market of the UAE.