On August 26, in Hanoi, Deputy Minister Tran Thanh Nam had a meeting with Mr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the Ministry of Economy of the United Arab Emirates (UAE). The two sides discussed solutions to promote agricultural trade in the coming time.

Deputy Minister Tran Thanh Nam highly appreciated the cooperation of the UAE Ministry of Economy in promoting trade between the two countries. The Deputy Minister shared: On the occasion of the Prime Minister of Vietnam attending COP 28 in December 2023, the Deputy Minister, on behalf of the Ministry of Agriculture and Rural Development of Vietnam and the leaders of the UAE Ministry of Environment and Climate Change, signed the "Memorandum of Understanding on Cooperation on Food Diversity", which is the basis for the two sides to promote bilateral cooperation in agricultural production and exchange of agricultural products.

(Deputy Minister Tran Thanh Nam speaking at the meeting)

The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the UAE was launched in June 2023. Up to now, the Agreement has entered the final stage of the negotiation process with many positive prospects from the commitments of both sides. The Deputy Minister expressed his hope that this Agreement will be signed soon, many important agricultural, forestry and fishery products of Vietnam will enjoy tax incentives, creating favorable conditions to promote agricultural trade between the two countries.

The UAE is one of Vietnam's largest trading partners in the Middle East. In 2023, the two-way turnover of agricultural, forestry and fishery products between Vietnam and the UAE was 327 million USD, a sharp increase compared to previous years. Vietnam's main export products to the UAE are pepper, cashew, seafood (pangasius, tiger shrimp, giant freshwater prawn, tuna, etc.), vegetables and fruits (lemon, guava, mango, mangosteen, coconut, etc.), wood and wood products, rice, and tea. Meanwhile, Vietnam's main import products from the UAE are animal feed and raw materials. Deputy Minister Tran Thanh Nam believes that through interconnected mechanisms, trade turnover between the two countries will increase strongly.

Mr. Thani Bin Ahmed AiZeyoudi agreed with Deputy Minister Tran Thanh Nam's opinion on the Comprehensive Economic Partnership Agreement between Vietnam and the UAE. Announcing the progress of CEPA negotiations, the Minister of State said that he is actively working with Vietnamese agencies to implement legal procedures to soon complete negotiations and sign this Agreement.

Mr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Ministry of Economy of UAE

Mr. Thani Bin Ahmed AiZeyoudi said: The UAE wants to promote the import of Vietnamese agricultural products such as rice, pepper, cashew nuts, and seafood. The UAE is also looking for investment opportunities in Vietnam. At the same time, the UAE wants to strengthen cooperation with businesses to produce and process Halal food in Vietnam.

Deputy Minister Tran Thanh Nam suggested that the two sides can increase trade promotion sessions at conferences and forums. This will also be an opportunity for businesses of the two countries to access new policies and regulations and further enhance cooperation opportunities.

The Deputy Minister also suggested that the two sides strengthen cooperation in developing the Halal food industry, promoting the export of Halal products, agricultural and aquatic products, fresh vegetables, processed foods, etc. from Vietnam to the UAE and the Middle East.

The Deputy Minister said: Currently, the Vietnamese agricultural sector is tending to develop export products with high quality and added value; Diversify export markets, including increasing exports of agricultural, forestry and fishery products to the global Halal market.

Vietnam's agricultural, forestry and fishery products are considered suitable for the Halal market. Vietnam has the advantage of being geographically close to large Halal markets such as the UAE. Vietnam's main Halal food exports are raw and semi-processed agricultural, forestry and fishery products with 08 main export items: confectionery and cereal products, rice, seafood, cashew nuts, coffee, vegetables and fruits, pepper and tea. The Deputy Minister requested relevant agencies of the UAE to share information with state management agencies and Vietnamese enterprises on the provision of analytical testing services, verifying the quality of agricultural products to ensure international standards and Halal product standards.

Source: Vietnamexport