Abu dhabi: Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, met the Vietnam Business Council in the UAE to explore how business communities in both nations can capitalize on opportunities anticipated from the Comprehensive Economic Partnership Agreement (CEPA), signed in October 2024, once it takes effect.
According to Emirates News Agency, Al Zeyoudi emphasized the significance of Vietnam as a trading partner for the UAE. In the first half of 2025, bilateral non-oil trade reached US$7.02 billion, marking a 16.9 percent increase compared to the same period in 2024, with a quarter-on-quarter rise of 6.4 percent. This growth accelerates the 2024 increase, which saw a 4 percent climb throughout the year, reaching US$12.6 billion-a 54.3 percent rise since 2019.
The figures reinforce Vietnam's position as the UAE's largest non-oil trading partner within the ASEAN region. Al Zeyoudi reiterated the UAE's commitment to enhancing bilateral trade with Vietnam and expanding investment opportunities to support industrial development.
"Both the UAE and Vietnam are committed to achieving mutual growth by expanding opportunities for our private sectors. Our CEPA is designed to open new markets for exporters and increase access to global supply chains. It's crucial for both nations to build connections to fully leverage its potential. We have strong foundations, with our business communities already benefiting from extensive bilateral exchange, and are now well-placed to develop a broad range of new opportunities for investors, entrepreneurs, and businesses," he stated.
He further added, "We are already witnessing the benefits of close collaboration. From supporting Vietnam's logistics infrastructure, including Saigon's Premier Container Terminal in Ho Chi Minh City and new cargo services across the Mekong Delta, we have set a course for further growth and greater prosperity and look forward to enhancing these key investments in the months and years ahead."
The UAE maintains robust economic ties with the ASEAN region, having concluded Comprehensive Economic Partnership Agreements with Indonesia, Cambodia, Malaysia, and Vietnam. These agreements have propelled the UAE's non-oil foreign trade with ASEAN countries to US$37.7 billion in 2024, reflecting a growth of 4.2 percent compared to 2023 and 16.8 percent more than in 2022. In 2024, ASEAN countries accounted for 4.6 percent of the UAE's total non-oil trade with the world and 11.3 percent of its trade with non-Arab Asian countries.