Comprehensive Economic Partnership Agreement between Vietnam and UAE suggested to be ratified in Q1, 2025

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son called upon both Vietnam and UAE to double effort to finalize and ratify the Comprehensive Economic Partnership Agreement (CEPA) in Q1, 2025, the Government News has reported.

The Deputy Prime Minister made the suggestion while meeting with Minister of Economy of the United Arab Emirates (UAE) Abdulla Bin Touq Al Marri on February 11 (local time) on the sidelines of the World Government Summit (WGS) in Dubai.

The early ratification of the document and putting it into operation will positively disseminate opportunities and benefits for business communities of both countries, according to the Deputy Prime Minister.

He also suggested the UAE's Ministry of Economy facilitate the implementation of the commitments between Vietnam and UAE on the occasion of Prime Minister Pham Minh Chinh's official visit to UAE last October, especially in terms of trade and investment. He also hoped to seek UAE's experience in development and national governance.

Deputy Prime Minister Son proposed that UAE, with its experiences in building the world's leading international financial centers and free trade zones, support Vietnam in building and operating international financial centers in Ho Chi Minh city, Da Nang city and free trade zones in Ba Ria-Vung Tau province as well as Hai Phong city.

Minister Abdulla Bin Touq Al Marri, for his part, revealed that his ministry will organize a large-scale investment conference in Vietnam in a bid to spur economic cooperation and investment opportunities from UAE and the world to the country.

The minister also highly spoke of Vietnam's endeavor to perfect regulations, laws, and business environment and raise national competitiveness.

"A large number of UAE enterprises are interested in Vietnam and stand ready to cooperate with Vietnamese partners, especially in such areas as high tech, AI, energy, infrastructure and seaports," Minister Abdulla Bin Touq Al Marri said, as quoted by the Government News.

Finally, the two sides agreed to early organize the 6th Meeting of the Vietnam - UAE Intergovernmental Committee and the 1st meeting of the Joint Working Group on Economic and Trade Cooperation in 2025.