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Prime Minister’s UAE visit raises prospects for cooperation

Published: 17/02/2009 05:00

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LookAtVietnam – Prime Minister Nguyen Tan Dung’s visit to the United Arab Emirates (UAE) is a breakthrough that has created new prospects for cooperation by two countries, according to Deputy Foreign Minister Dao Viet Trung.

Deputy FM Trung made these remarks while answering a Vietnam News Agency correspondent’s questions about PM Dung’s official visit to the UAE, after the PM concluded his visit on Feb. 17.

This is the first time a Vietnamese Prime Minister has made an official visit to the UAE since the two countries established diplomatic ties, Trung said, confirming the historic significance of the visit.

“PM Dung and the UAE leaders reached unanimity regarding numerous measures to enhance, expand, deepen and ensure the stability of the two countries’ cooperative ties, especially in the five areas of investment and finance, trade, energy, labour and agriculture,” the Deputy FM noted.

He said a series of important documents were signed, including agreements on investment promotion and protection, double tax avoidance, establishment of an intergovernmental committee, labour cooperation, cooperation between the two foreign ministries and cooperation between the two Chambers of Commerce and Industry of Vietnam and Abu Dhabi.

With these agreements, the visit completed another stage of establishing a legal basis and a cooperation mechanism for the two countries to boost investment and business, Trung said. He said the two sides also committed to soon negotiating and signing agreements governing visa exemptions and tourism cooperation, as well as cooperation in education and scientific research to promote long-term and effective cooperation between the two nations.

During the visit, business representatives from the two countries also signed a series of important compacts, including agreements to increase investment capital for the Ha Long Star project from 220 million USD to 550 million USD, cooperation in sheep breeding in Ninh Thuan, and real estate investment in Quang Ninh province and HCM City.

Regarding the prospects of the two countries’ future cooperation, Deputy FM Trung stressed that the UAE is an important and highly prioritised partner of Vietnam in the Middle East. The two countries can boast fine political and diplomatic ties, an important basis for them to promote economic cooperation, he said.

The diplomat said that, over the recent past, Vietnam-UAE cooperation has seen encouraging developmental steps, with numerous major projects being implemented and markedly increasing trade value.

Vietnam and the UAE possess huge potential to develop their bilateral cooperation, he noted. Vietnam is encouraging UAE businesses to invest in major projects and is eager to import crude oil, petroleum products, chemicals and fertilisers from the UAE.

The UAE has the potential to become a market for Vietnam’s staple exports, such as farm produce, cooking, garments and textiles, handicraft products and electronic parts, Trung said.

He revealed that a UAE deputy prime minister is planning to visit Vietnam next month to begin the implementation of agreements previously-signed by the two countries and in June, 2009, a large business delegation from the Gulf nation is scheduled to visit Vietnam to seek investment opportunities.

The Deputy FM expressed his belief that, with the efforts of both sides, economic, trade and investment cooperation between Vietnam and the UAE would be promoted in the near future, especially in energy, finance, banking, construction, real estate, transportation, agriculture, labour and tourism.

Effective cooperation between the two countries would help them overcome the adverse impacts of the current global economic crisis, as well as the challenges of globalisation, contributing to the stable development and prosperity of the two nations, Trung added.

VietNamNet/VNA

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