Vietnam-UAE two-way trade crosses $3 bn during Jan-Aug 2022: VTO

08 Sep '22

1 min read

Pic: Shutterstock/ Igor Grochev

Import and export activities between Vietnam and the United Arab Emirates (UAE) have earned an estimated $3.3 billion during January to August 2022. Vietnam has attained a trade surplus of around $3 billion for the same period. The UAE offers opportunities for Vietnamese businesses to increase exports to the Middle East and Africa, according to the Vietnamese Trade Office (VTO) in the UAE.

Domestic firms set out suitable strategies for exports to the UAE which gathers many rivals due to its openness, the VTO said as per Vietnamese media reports. The VTO advised Vietnamese enterprises to carefully screen potential partners and select safe payment methods to avoid any trade frauds.

The VTO also recommended trade promotion agencies to increase investment and trade forums with the involvement of enterprises from both Vietnam and the UAE and representatives from local management agencies. The office also suggested enabling Vietnamese firms to take part in international exhibitions and fairs in Dubai.

Introducing and developing direct transport routes will also facilitate reducing transport expenses to a large extent, added the VTO.

Fibre2Fashion News Desk (NB)

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