Saudi Arabian Ambassador to Vietnam Mohammed Ismaeil A. Dahlwy. Photo courtesy of Saudi Arabian Embassy in Vietnam

Based on the fine traditional relationship in the past, this is the right time to bring Vietnam's relations with Arab countries to a new height and in a more substantial and extensive manner, said Saudi Arabian Ambassador to Vietnam Mohammed Ismaeil A. Dahlwy on March 13, VNA reported.

Speaking at a meeting in Hanoi between ambassadors of Arab countries to Vietnam and former Vietnamese ambassadors to Arab countries, Mohammed Ismaeil A. Dahlwy said that this event was a good opportunity for them to exchange experience and discuss measures to boost relations between Vietnam and the bloc.

Ambassadors of Arab countries to Vietnam and former Vietnamese ambassadors to Arab countries. Photo courtesy of Saudi Arabian Embassy in Vietnam

Saudi Arabia and other Arab countries consider Vietnam as a bright spot in economic growth, and hope for closer cooperation in the coming time, he affirmed.

Ambassadors of Arab countries, including the United Arab Emirates (UAE), Algeria, Palestine, and Morocco, pledged to do their utmost to further develop relations with Vietnam.

Stressing that Vietnam is an important partner of their countries in Southeast Asia, the diplomats showed their hope to cooperate with and receive support from Vietnamese friends to bring the ties to a new height.

According to them, there remains ample room to promote Vietnam’s ties with Arab countries. They suggested the sides intensify collaboration in culture, education, and people-to-people exchanges.

The diplomats proposed opening new direct air routes, stepping up the organization of cultural and people-to-people exchanges, and strengthening cooperation in politics, economics, investment, tourism, and sports between localities.

Former Vietnamese ambassadors affirmed their willingness to cooperate with the Arab community to enhance bilateral ties.

Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung (first on the left) introduces Vietnamese products at Lulu Supermarket in the Middle East country in 2022. Photo: VNA

With a population of 400 million, the Middle East is emerging as a promising market for Vietnamese exporters, according to experts.

Thanks to the rising oil prices, the Middle East is enjoying high growth. Among 16 regional countries, Vietnam has mostly traded with six member nations of the Gulf Cooperation Council (GCC), namely the UAE, Arab Saudi, Kuwait, Bahrain, Qatar, and Oman.

Trade between Vietnam and the GCC countries has surged from USD 2.7 billion in 2012 to USD 12.5 billion in 2021.

So far, Vietnam has signed economic, trade, and scientific-technological cooperation agreements with five GCC countries, trade deals with two nations, double-tax avoidance agreements with five countries, and investment protection deals with four countries. Vietnamese products are suitable to the demands of the GCC countries.

Nguyen Tuan, Deputy Director of the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC), said that Middle East countries have a high demand for wooden furniture, plastics, grains, garments, footwear, rubber products, meat, milk, and vegetables, which are strong products of Vietnam.

Each year, the market imports about 80% of its food and foodstuff consumption needs, worth about USD 40 billion. The figure is likely to reach about USD 70 billion per year by 2035. Meanwhile, the import tax rate in the market is relatively low at 0-5%.

HCM City’s export revenue generated from the Middle East market has risen strongly. In 2021, the city earned USD 230 million from exporting goods to the UAE, and USD 130 million from Iraq

According to Vietrade, the Middle East and Africa are very promising markets where demand for imported spices is fairly high and quality standards are not so strict.

The region is also geographically important as it acts as an entrepot for goods to reach Asia, Europe, and Africa.

Vietnam also dominates the Middle Eastern countries in exporting farm produce and fruit such as dragon fruit, watermelon, and lemons.

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