UAE – a potential market for Vietnamese goods

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Vietnam CustUAE – a potential market for Vietnamese goodsoms believes the United Arab Emirates (UAE) could develop into a lucrative export market for Vietnamese goods, with ten-month export turnover totals increasing 136% year-on-year to US$3.5 billion.

The UAE is currently Vietnam’s seventh largest export market and 17th biggest trade partner. While the traditionally important export commodities like mobile phones, garments and textiles, and footwear remain strong, restructures have seen a transition towards emerging export products such as electronics and components, wood and timber products, plastics, and electric cable.Vietnamese Trade Counsellor to Dubai-UAE Ngo Khai Hoan credits the positive export trends to bilateral agreements, including those on Investment Encouragement and Protection and Double Taxation Avoidance.

The UAE could serve Vietnamese businesses as an export gateway into the Middle East and Africa. Markets in these regions are dependent on imported food, from which they satisfy up to 90% of consumer demand.

Hoan sees an opening for Vietnamese exporters to proactively increase their market shares in agricultural produce, tea, coffee, construction materials, and seafood.

(VOV)

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