The comprehensive economic partnership agreement between the UAE and Vietnam has officially come into effect, marking a significant expansion and strengthening of trade and investment ties between the two nations.
This agreement will aid in the elimination of trade barriers, reduction of tariffs, and establishment of a robust framework to enhance economic cooperation across various sectors.
Vietnam, an export-driven economy, is the UAE’s largest trading partner within the ASEAN group, with non-oil bilateral trade growing by 4% in 2024 to reach $12.6 billion.
In 2025, the trade volume surpassed $16.05 billion, reflecting a remarkable increase of 27.4% compared to 2024.
With the official implementation of the comprehensive economic partnership agreement, further growth in bilateral trade is anticipated, as the benefits of the agreement are expected to improve market access and create opportunities to strengthen cooperation in the private sector.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, stated that the commencement of the comprehensive economic partnership agreement between the UAE and Vietnam represents a crucial step toward enhancing our economic partnership and unlocks new avenues for cooperation and sustainable growth.
He further noted that the advantages of this agreement extend beyond boosting trade relations; it also provides investment opportunities in vital sectors such as renewable energy, technology, and agriculture.
The comprehensive economic partnership agreement abolishes or significantly reduces tariffs on over 90% of UAE exports to Vietnam, covering 99% of the total value of these exports.
Similarly, Vietnam—recognized for its rapidly growing dynamic economy—will benefit from tariff reductions on 95% of its product categories, representing 99% of the current market imports from Vietnam to the UAE, which will significantly enhance trade flows and economic interaction.
In line with the UAE’s strategy to engage more with the world and stimulate its foreign trade, the comprehensive economic partnership agreement with Vietnam—a key player in the ASEAN region—is a crucial element in achieving the UAE’s goal of reaching a non-oil trade value of AED 4 trillion (approximately $1.1 trillion) by 2031.
Since its launch in September 2021, the comprehensive economic partnership agreements program has successfully established agreements with over 30 countries across Asia, Africa, Europe, and the Americas. Including this latest agreement, 15 agreements have already entered into effect, enhancing trade relations and facilitating UAE companies’ access to markets containing nearly a quarter of the world’s population.