The latest figures of the General Department of Customs showed that in the first two months of 2021, two-way trade turnover between Vietnam and UAE totaled 809 million USD, a year-on-year increase of 58%.

Of this, Vietnam’s exports to UAE reached approximately 737 million USD, up nearly 60%, and imports were valued at 72 million USD, up 44%. In the balance of trade, Vietnam always enjoys a trade surplus in this market.

Phones and accessories are still Vietnam’s key export items, valued at 551 million USD, up nearly 108% compared to the same period last year and accounting for two thirds of the total export turnover.

Cashew is among items exported to the UAE over the past 2 months.

(Photo: VNA)

Exports of agricultural and aquatic products all grew positively. Specifically, cashew nuts reached 10.3 million USD, up 6 fold compared to the same period last year; seafood, 10.6 million USD, up 18%; and fruits and vegetables, 7.5 million USD, up 12%.

Meanwhile, raw material plastic is the main import item from the Middle Eastern country, reaching 41.8 million USD, a year-on-year increase of 66%. It is followed by animal feed and raw materials with 8.7 million USD, up 9%.

According to the Vietnam Trade Office in the UAE, with its favorable geographical location, flexible and effective foreign trade policies, and modern infrastructure, the UAE is a gateway to penetrate the Middle East and Africa market. 80% of goods moving into the UAE are re-exported to a third country.

In addition, the UAE is a huge importer of food and foodstuffs from all over the world.

“With the above factors, the UAE continues to be a potential market to penetrate and develop for Vietnamese businesses,” the Vietnam Trade Office in the UAE said./.

BTA