Vietnam has a trade surplus of 3 billion USD to the UAE

Total two-way trade turnover between Vietnam and the UAE in the first 8 months of the year was estimated at 3.3 billion USD, of which Vietnam had a trade surplus of about 3 billion USD.

According to the Vietnam Trade Office in the UAE, the total two-way trade turnover between Vietnam and the UAE in the first eight months of the year was estimated at 3.3 billion USD, of which Vietnam had a trade surplus of about 3 billion USD.

Although Vietnam has a trade surplus to the UAE, the Vietnam Trade Office in the UAE also recommends that the UAE be an open market, so there are many competitors. Importers always pressure exporters to get the lowest price. Besides, this is an Islamic country, so food and beverage products and many other products need Halal certification…

Therefore, in order to maintain the export performance to this market, Vietnamese enterprises need to develop an appropriate export strategy for the UAE.

In particular, fraud in the UAE is widespread. Therefore, before conducting business cooperation, enterprises need to verify their partners clearly. When cooperating, it is necessary to pay attention to negotiating the safest payment method such as opening LC. It is not recommended to apply the TT payment method or other payment methods that have many risks.

Take advantage of Dubai's gateway position to connect with the system of traders and logistics businesses in Dubai to promote exports to the Middle East and Africa.

For trade promotion agencies, the Vietnam Trade Office in the UAE proposed: Strengthening the organization of large-scale trade and investment forums with the participation of leading enterprises of the two countries. parties, as well as the participation of local trade and investment management agencies for the two sides to share information. Regularly participate in international trade fairs and exhibitions in Dubai to introduce and promote Vietnamese goods. This is also an opportunity to find partners around the world.

Strengthen connection with UAE's partner agencies and businesses, open new or cooperate in exploiting direct freight routes between Vietnam and Dubai. This will help significantly reduce freight costs in the context of high international freight rates today.

Katherine (Source: Economic News)