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Business

Viet Nam, Dubai trade chambers ink deal

VNECONOMY updated: 05/09/2007


The Viet Nam Chamber of Commerce and Industry (VCCI) and its counterpart in Dubai, the United Arab Emirates (UAE), signed an agreement to boost cooperation at the Viet Nam-UAE business forum in Ha Noi on Sept. 4.

According to VCCI Chairman Vu Tien Loc, Dubai will act as an important gateway for Vietnamese goods as it is one of the world’s largest trading centres.

Since the two countries initially signed a trade agreement, two-way trade has witnessed significant growth, reaching the 200 million USD mark in 2006, Loc said.

Viet Nam has opened consulate, representative offices and a trade centre in Dubai to foster Vietnamese businesses’ operation in UAE. However, Loc said, economic and trade relations between the two countries are still languishing below their potential, citing the lack of a UAE-invested project in Viet Nam to date.

UAE Minister of Economic Sheikha Lubna Al Qasimi told the forum that her country wants to develop a multi-sided economic cooperation with Viet Nam, especially in conducting joint projects to seek investment opportunities.

She also called upon Vietnamese companies to invest into construction, finance and banking, insurance, petroleum, information technology, transportation, tourism and real estate in the UAE.

Source: Vietnam Agency