Vietnam runs trade surplus of 3 billion USD with UAE

Illustrative image (Source: VNA)

Two-way trade between Vietnam and the United Arab Emirates (UAE) was estimated at 3.3 billion USD in the first eight months of this year, with the Southeast Asian nation enjoying a trade surplus of some 3 billion USD.

The Vietnamese Trade Office in the UAE suggested domestic firms set out suitable strategies for exports to the UAE which, it said, gathers many rivals due to its openness.

Notably, food and beverages exported to the UAE should meet Halal standards, the office said, asking Vietnamese enterprises to identify partners before cooperation and select safe payment methods to avoid any trade frauds.

The UAE will serve as a gateway for Vietnamese businesses to step up exports to the Middle East and Africa, it suggested.

Vietnam enjoyed a trade surplus of over 3.3 billion USD with the UAE in the first eight months of this year. (Photo: VNA)

The office also proposed trade promotion agencies increase investment and trade forums with the participation of enterprises from both Vietnam and the UAE, as well as representatives from local management agencies, while facilitating Vietnamese firms to participate in international exhibitions and fairs in Dubai.

Launching or optimising direct transport routes between the two sides will help cut transportation costs significantly, it said./.