Kuwait and the United Arab Emirates are seeking greater trade and business collaborations with Viet Nam, their officials told a trade facilitation conference in HCM City on Tuesday.
Jasem Abomarzouq, second secretary at the Kuwaiti consulate in the city, said bilateral trade in the first eight months of this year was around US$1.43 billion, up from $350 million during the whole of last year.
Viet Nam’s exports made up only $54 million of this.
Abomarzouq said: “Vietnamese goods such as fruits, frozen fish, rice, footwear, construction materials, and cosmetics have been around in Kuwait for many years. Kuwait hopes to see more of Vietnamese products in Kuwait and other countries in the Gulf Cooperation Council.”
His country has big demand for imported goods such as foodstuff, cars and garment and textiles as well as for foreign workers, which can be a great opportunity for Viet Nam, he said.
The UAE, the second biggest economy in the Middle East, last year imported from Viet Nam over $5 billion worth of goods such as rice, electronics, footwear, textile, seafood, timber, and vegetables.
Viet Nam imported around $562 million worth of goods including minerals, liquefied petroleum gas and petroleum from the UAE, he said.
Thieu Tan Dung of the HCM City Investment and Trade Promotion Centre said there was potential to increase exports of products like rice and seafood.
The UAE was continuing with efforts to diversify its economy by focusing on non-petroleum sectors and open it up, and has struck trade deals with around 50 countries, he said.
Both countries were also pushing for more collaboration in sectors such as energy and petroleum, he added.
Nguyen Thi Ngoc Hang of the Ha Noi-based Halal Certification Agency said Halal certification was a must for exporting to these countries.
Pham Thiet Hoa, director of the centre, said his organisation would assist Vietnamese firms with researching the two markets and organise more networking events for firms in the three nations.
The conference was organised by the centre and the Kuwaiti consulate. – VNS