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UAE signs Comprehensive Economic Partnership Agreement with Vietnam
(MENAFN) The UAE government signed a Comprehensive Economic Partnership Agreement (CEPA) with Vietnam on Monday, marking a significant move within the UAE's broader plan to expand its international partnership network. The agreement underscores Vietnam's role as a strategic partner and highlights its standing as one of Asia's leading economies, according to the Emirates News Agency, WAM.
This partnership aims to bolster the UAE’s status as a global hub for economy, trade, and industry. By facilitating collaboration across various sectors, it also aligns with the UAE’s ambitious “We the Emirates 2031” vision, which targets a GDP of three trillion dirhams within the next decade. UAE ministers and officials noted that this deal would play a vital role in achieving these economic goals.
The agreement is set to open new opportunities for companies and investors from both nations, fostering collaboration in essential sectors such as clean energy, environmental sustainability, and food security. This partnership will enable both countries to work on key projects that address pressing global issues while strengthening bilateral economic ties.
Held on Monday, the signing ceremony followed discussions between Sheikh Mohammed bin Rashid Al Maktoum, the UAE's Vice President and Prime Minister, and Vietnamese Prime Minister Pham Minh Chinh, who is visiting the UAE. The CEPA will improve UAE service providers' access to the Vietnamese market, covering various sectors like business, communications, engineering, financial services, healthcare, tourism, and transportation.
This partnership aims to bolster the UAE’s status as a global hub for economy, trade, and industry. By facilitating collaboration across various sectors, it also aligns with the UAE’s ambitious “We the Emirates 2031” vision, which targets a GDP of three trillion dirhams within the next decade. UAE ministers and officials noted that this deal would play a vital role in achieving these economic goals.
The agreement is set to open new opportunities for companies and investors from both nations, fostering collaboration in essential sectors such as clean energy, environmental sustainability, and food security. This partnership will enable both countries to work on key projects that address pressing global issues while strengthening bilateral economic ties.
Held on Monday, the signing ceremony followed discussions between Sheikh Mohammed bin Rashid Al Maktoum, the UAE's Vice President and Prime Minister, and Vietnamese Prime Minister Pham Minh Chinh, who is visiting the UAE. The CEPA will improve UAE service providers' access to the Vietnamese market, covering various sectors like business, communications, engineering, financial services, healthcare, tourism, and transportation.
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