UAE and Vietnam Forge Stronger Ties with Comprehensive Economic Partnership

Sheikh Mohammed bin Rashid Al Maktoum and Pham Minh Chinh, Prime Minister of Vietnam, met in Dubai to bolster UAE-Vietnam relations, signing a Comprehensive Economic Partnership Agreement. The agreement aims to strengthen trade, investment, and cooperation across multiple sectors, enhancing access to markets and promoting mutual growth.

In a significant diplomatic event, UAE's Vice President and Prime Minister, Sheikh Mohammed bin Rashid Al Maktoum, welcomed Vietnam's Prime Minister Pham Minh Chinh at Zabeel Palace in Dubai. The meeting underscored the deep-rooted ties between the two nations, which have progressively strengthened since their inception in 1993.

Highlighting the burgeoning relationship, Sheikh Mohammed noted the UAE's position as Vietnam's leading trading partner in the Middle East. He announced the signing of a Comprehensive Economic Partnership Agreement (CEPA) to further enhance economic cooperation, which promises unprecedented opportunities in investment, industry, and technology sectors.

The accord is expected to significantly boost non-oil trade, build on Vietnam's robust economic growth, and open up the UAE's service sectors to the Vietnamese market. Additionally, several memorandums of understanding were signed to bolster cooperation in education, financial services, communications, and healthcare.

(With inputs from agencies.)