(VOV) – Vietnam’s exports to the United Arab Emirates (UAE) hit US$2.29 billion in the first seven months of this year, up 111% compared to the same period last year.
However, its import value from this market was just US$204 million, according to the Ministry of Industry and Trade’s Africa-Western Asia-Southern Asia Department.
The UAE is Vietnam’s largest trade partner in West Asia and 17th largest export market in the world.
It predominantly imports cell phones, electronic products and spare parts, garments and textiles, footwear, seafood, agricultural products, spices, food, building materials, and fruit and vegetables from Vietnam.
In the first seven months of 2013, Vietnam’s export of cell phones and spare parts to the UAE rose 164.5% to US$1.92 billion, accounting for 84% of total Vietnam’s exports to this market and placing them first among exports.
They were followed by computers, electronic products and spare parts, garments, rice, wood and wood products.
Recently many of the UAE’s big companies have sought investment opportunities in Vietnam such as DP World, Mubadala Petroleum, Dubai Holdings, Limitless, Tamouh and Global Sphere.
Vietnam Royal Group and Global Shere, a Dubai-based development company, have considered the possibility of signing an investment contract to build “Hanoi Wall Street” with total investment capital of US$30 billion.
The two-way trade turnover between Vietnam and the UAE has increased significantly over the past few years, rising from US$550 million in 2008 to US$2.38 billion in 2012, up 82% compared to 2011.
In 2012, Vietnam’s exports to the UAE exceeded US$2 billion for the first time.
Đăng ký: VietNam News
