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Abu Dhabi Department of Economic Development Eyes Vietnam Market

Friday, April 08, 2011
Abu Dhabi Department of Economic Development (DED) participated in Foreign Trade Ministry-sponsored UAE pavilion at the 21st Vietnam International Fair (Vietnam Expo 2011), which is being staged at the Capital Hanoi from 6-9 April. This Fair, which will see the participation of six Abu Dhabi based companies to debut services, aims to cement trade exchange between Vietnam and global producers in home appliances, kitchenware, furniture, gifts, accessories, home maintenance equipment, home decoration products and sport equipment. Dr. Adeeb Al Afifi, Director of Exports Support and Foreign Trade at DED, stated that this participation which is being staged in coordination with UAE’s Foreign Ministry aims to help Abu Dhabi companies outreach new markets and benefit from potential opportunities there by firsthand seeing the Vietnam market and meeting leading international companies taking part at this fair.   “DED is keen to promoting Abu Dhabi products and services in line with Abu Dhabi 2030 Vision that calls for economic diversification and less dependence on oil as the key source for revenues”, he explained. Al Afifi also stressed that importance of Abu Dhabi’s participation in this Fair cements the role the UAE can play as a gateway for Vietnam to reach the Gulf, the Middle East and African Markets. DED sponsors the participation of six Abu Dhabi-based companies: Abu Dhabi Fertilizer Industries Company, Lewa Company for dates, Al Khazna Fertilizer and Chemical Factory, La Roche, Serco Company, and Al Rumailah Plastic Factory.   “Taking part in exhibitions being staged in Vietnam comes in the light of various agreements inked by both the UAE and the Vietnam governments such investment protection and promotion, double taxation avoidance agreement, joint committee setup, as well as other agreements for mutual cooperation such as between Abu Dhabi Chamber of Commerce and Industry and its Vietnam counterpart and agreements by Foreign Ministry of both countries. Trade exchange between UAE and Vietnam exceeded AED 90 million in 2010, with AED 27 million for exports, AED 58 for imports, and almost AED 4 million for re-exports. Highlight the approach for taking part in exhibition, especially overseas ones, Al Afifi stressed that several factors are taken into considerations such a thorough study of the exhibitions, and the importance of the UAE products and services for those markets. “This is DED’s debut at this exhibition and the Vietnam market in general. Therefore, the participating companies, mostly from the agriculture, were chosen based on the demands of this market which heavily relies on agriculture sector”, he explained. “We hope UAE companies taking part at this show will conclude agreements and partnerships that help boost trade exchange with Vietnam while opening new opportunities and more investments and commercial cooperation between the private sectors in both countries”, Al Afifi concluded. Mr. Badr Al Junaibi, Acting Head of Foreign Trade, stated that the Department is keen to support the participation of Abu Dhabi companies and factories in various regional and international fairs such as Vietnam which is well renowned and reputed exhibition to promote Abu Dhabi’s products and services. “DED provides a wide spectrum of services to exporter sector in Abu Dhabi such as sponsoring their participation in local and international events and fairs, organizing commercial commissions to global markets, as well as raising awareness of the importance of exportation through courses, workshops and symposiums for SME”, he said. “DED is committed to supporting exporters’ decision to enter new markets by providing them with global trade information and needs of international markets along with training programmes aimed to boost their exporting capabilities and strategies”, he concluded. Key Vietnam’s exports to the UAE include electronics, accessories, machines, equipment, spare parts, sea foods, rice, coffee, pepper, and garments. UAE’s exports cover LPG, fertilizers, plastic material, oil products. In recent years, cars and their spare parts topped UAE’s exported products to Vietnam.
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