Within the framework of his official visit to the United Arab Emirates (UAE), on the afternoon of October 28, local time, Prime Minister Pham Minh Chinh had talks with UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum.
The two leaders witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA) - Vietnam's first free trade agreement with an Arab country. This is also the free trade agreement with the fastest negotiation time in Vietnam, demonstrating the high determination of the leaders as well as ministries and sectors of the two countries to create a breakthrough in economic, trade and investment cooperation between the two countries, opening a major, historic path for Vietnam to penetrate deeper into the Middle East market.
With comprehensive negotiation contents, the CEPA Agreement promises to bring balanced benefits to both countries and is in line with the desire to enhance cooperation in many fields between Vietnam and the UAE.
In the spirit of "innovation in thinking, creativity in strategy, consensus in coordination, and determination in implementation to concretize and realize the results of high-level visits between the two countries and signed cooperation agreements", the two leaders discussed and agreed on 5 key cooperation focuses in the coming time.
Firstly, increase delegation exchanges at all levels, create more political trust; establish joint working groups to substantively implement the Comprehensive Partnership.
Second, effectively implement the CEPA Agreement to create a breakthrough in trade exchange, further open the market towards the goal of bringing bilateral trade turnover to over 10 billion USD in the coming time; encourage and create conditions for businesses of the two countries to cooperate in investment and business.
Third, strengthen cooperation in the fields of digital transformation, green transformation, and innovation. Vietnam encourages UAE businesses to invest more in areas that Vietnam is interested in and the UAE has strengths in, such as green transformation infrastructure, digital transformation, digital finance, and especially artificial intelligence, cloud computing, and the Internet of Things.
Fourth, promote cooperation in people-to-people exchange, culture and tourism. Prime Minister Pham Minh Chinh affirmed that he will direct the opening of a direct flight route from Vietnam to the UAE to create more favorable conditions for people of the two countries to increase visits and mutual understanding.
Fifth, strengthen cooperation and mutual support at multilateral forums in the context that both countries share many common views on regional and international issues, are peace-loving peoples, and wish to cooperate for peace, stability and development in the two regions and in the world.
Emphasizing the effective implementation of the contents agreed by both sides, the two leaders agreed to assign relevant ministries and branches to actively coordinate to concretize the proposals.
On this occasion, the two leaders also witnessed the signing of six cooperation documents between the two sides, including: Memorandum of Understanding on Investment, Innovation and Financial Centre, Memorandum of Understanding on Experience Exchange in Government Modernization and Development, Memorandum of Understanding on Higher Education and Scientific Research Cooperation, Memorandum of Understanding on Cooperation between The State Bank of Vietnam and the Central Bank of the UAE, Memorandum of Understanding on Cooperation between the Directorate of Customs and Abu Dhabi Port, Memorandum of Understanding on Cooperation between the Vietnam Federation of Industry and Commerce (VCCI) and the Abu Dhabi Chamber of Commerce and Industry.
