Effective logistics cooperation with the UAE will play a significant role in promoting Vietnam’s trade exchange with the Middle East and other regions around the world, Director of the Ministry of Industry and Trade’s Asian-African Market Department Tran Quang Huy said at a workshop in Hanoi on August 14.

Hanoi (VNA) – Effective logistics cooperation with the UAE will play a significant role in promoting Vietnam’s trade exchange with the Middle East and other regions around the world, Director of the Ministry of Industry and Trade’s Asian-African Market Department Tran Quang Huy said at a workshop in Hanoi on August 14.

The workshop on exploring the potential for such collaboration between the two countries was co-organised by the ministry and the World Logistics Passport (WLP) – a global initiative led by Dubai – amidst the sides’ celebration of their 30th anniversary of diplomatic relations.

At the event, UAE Ambassador to Vietnam Bader Abdulla Al Matrooshi highlighted that the UAE is Vietnam‘s largest export market in the Middle East, while Vietnam ranks among the top 10 largest import partners of the UAE globally. Between 2018 and 2022, their bilateral trade was kept at 5 billion USD annually, accounting for about 25% of the total import-export turnover between Vietnam and the Middle East.

Manager of the WLP Global Hubs and Partners Abdulla Alsuwaidi assessed that Vietnam, strategically positioned as a transit and production centre in Southeast Asia, will be an important Hub within the WLP network. The WLP has added the nation to its list of logistics and trade hubs in the region, referred to as Hubs.

The workshop saw the signing of cooperation agreements between the WLP and nine Vietnamese business partners.

Huy expressed his hope that through collaboration activities with the WLP, Vietnamese firms and organisations will gain significant benefits in cargo transport and logistics and expand operations, serving better competitiveness of Vietnam’s import-export goods and services.

The WLP is a global, private sector-led, initiative designed to smooth the flow of global trade, unlock market access through the creation of new trade routes and provide economic efficiencies to members. To date, 29 countries have registered to participate in the network./.

By: VietnamPlus