New era in UAE-Vietnam ties

Hanoi: The UAE and Vietnam has vowed to boost trade ties and agreed to open diplomatic representations.

The agreement was made during talks in Hanoi between His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and Vietnamese Prime Minister Nguyen Tan Dung, during the second day of the UAE Vice-President's official visit to Vietnam.

The two leaders stressed the importance of strengthening economic relations and exchanging administrative and technical expertise and visits.

Shaikh Mohammad and the Vietnamese leader expressed hope the visit would extend new bridges of cooperation and develop commercial and economic ties at the public and private levels. The two leaders also agreed to undertake the necessary procedures to open a UAE embassy in Hanoi and a Vietnamese one in Abu Dhabi "as soon as possible," WAM reported.

Economic partnership

"I was looking forward to make this official visit which I hope would yield constructive results that would contribute to the development of bilateral relations at all levels," Shaikh Mohammad was quoted by WAM as saying during the talks with the Vietnamese President.

The Vietnamese Prime Minister said the UAE Vice-President's visit was greatly appreciated by the Vietnamese leadership. "It will open new horizons to build economic partnership based on mutual respect and joint interests," he stressed.

Shaikh Mohammad arrived in Hanoi on Monday, accompanied by high-profile official and business delegation, and was received by Vietnamese President Nguyen Minh Triet. Four memorandums of understanding were signed yesterday, WAM said.

They included an MoU between the ministries of Finance and Industry, another between the Emirates Securities and Commodities Authority (Esca), and its Vietnamese counterpart, and one between the Dubai Chamber of Commerce and Industry, and the Vietnam Chamber of Commerce and Industry.