Maximising strengths in Vietnam – UAE relations

TIN LIÊN QUAN
	President hosts UAE, Mozambican, RoK Ambassadors
	Vietnam, Middle East explore trade potential

Your Excellency, what have been the highlights of Vietnam – UAE relations over the last 25 years?

First of all, the two countries have built their relationship in the spirit of mutual understanding. Our countries share a lot of similarities, which is a foundation for promoting friendly bilateral relations. In the process of national development, both countries know how to overcome the harsh obstacles of natural conditions and historical circumstances with the will of the people. Both Vietnam and UAE appreciate national cultural values and have a clear orientation towards preservation and development.

Secondly, both countries support each other politically in the international arena. During high-level visits by leaders of the two countries, the orientations of development have been discussed at length. The two countries have been active in supporting each other at international organisations and institutions as well as giving each other many social incentives such as official development assistance (ODA) packages and funding to support localities in Vietnam.

Ambassador Trinh Vinh Quang works with UAE Ambassador to Vietnam Obaid Al-Dhaheri in Ho Chi Minh City.

Thirdly, the two countries have never had any differences or conflicts of interest. We also have common interests such as islands and seas, social and political stability, and the direction of national development, but we need to focus on strategic interests. This is the basis for building trust and a favourable factor in promoting bilateral relations for mutual benefit.

Fourthly, political trust and mutual support are often strengthened through activities in the fields of politics, foreign affairs, economics, culture and sports. These activities continue to be promoted by the Ministry of Foreign Affairs and related ministries.

How can the two countries take advantage of their potentials and strengths to further promote friendly relations and cooperation?

Both Vietnam and UAE fully utilise each other’s strategic position to promote friendly relations and bring out the best of each country. UAE wants to invest in Vietnam in order to access a larger market including Indochina, Southeast Asia and southern China. With its strengths and successes, UAE has invested a great deal in the fields of seaports, hotels and energy in Vietnam.

On the Vietnamese side, we have made good use of our own strengths in commodity production, especially in agriculture, forestry, fisheries and consumer goods, with high quality Vietnamese products and better prices. Vietnamese businesses utilise the strategic position of the UAE as a commercial hub to gain access to the Middle East – North Africa area so that Vietnamese products can penetrate a bigger market. Vietnamese products have also become popular with consumers in the region, including products such as telecommunication equipment, footwear, garments, agricultural products, dry milk and coffee, among others.

Ambassador Trinh Vinh Quang joined the launching ceremony of VTV's representative office in the Middle East.

The UAE holds huge potential for Vietnamese exports. Could you share your experiences for Vietnamese enterprises exploiting this market?

Given the large consumption market, high import share (95%) and good regional connectivity, UAE and Middle Eastern importers usually give priority to suppliers with stable high-quality products, large quantities and low prices. This is the solution to overcome short-term exports by small Vietnamese enterprises. To successfully do this, Vietnamese businesses need long-term strategies in terms of production, supply and delivery that are fast, quality-oriented, with low cost and stable prices for at least 12 months so that we’ll be able to compete with other countries. This is also the main export criteria in the future of international trade.

In addition, Vietnamese businesses need to do better in finding and approaching new markets with a wide variety of goods, as well as consider the convenience and satisfaction of customers. In that process, the Vietnamese Embassy in UAE is always a reliable partner – a focal point for information and connectivity, as well as other necessary support for businesses in accessing the Middle East market.

In addition, prestige, vision and professionalism in trade are always respected in the Muslim world. Therefore, maintaining prestige in transportation, payment and quality goods must be strictly adhered to.

The world is going through unpredictable changes, what should Vietnam and UAE do to optimise trade and investment cooperation as well as mutual support in international affairs?

In my opinion, Vietnam and UAE are on the right path in developing their bilateral relationship by making trade and investment a priority, in addition to mutual support in international affairs. This is what we should pursue over the coming years. In order to optimise the effectiveness of our cooperation, both countries should take advantage of the following factors:

Ambassador Trinh Vinh Quang attended the opening ceremony of Gulfood Fair 2018.

Despite the same GDP contribution from oil (25-26%), both countries are moving towards to a sustainable development strategy that does not consider oil as the main source of energy and income. UAE has very green renewable energy sources, with the example of Masdar City. UAE has a full range of technology and resources for renewable energy development in Vietnam, which is consistent with the sustainable development strategies in Vietnam’s special administrative regions.

Secondly, both countries should take advantage of, prioritise and optimise each other's strengths in the process of trade, investment and promoting relations. UAE is known for its petroleum industry and the petrochemical industry is a very important sector in Vietnam, while Vietnam is a very strong source of labour and food security (also a priority of UAE). As these strengths are materialised through development cooperation, both countries can enjoy more benefits and more resources for each country's development goals.

Thank you, Your Excellency!

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