The Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA), signed on October 28, 2024, marks Vietnam’s first free trade agreement with an Arab nation, enhancing economic ties between the Middle East and ASEAN. Covering 18 chapters, it eliminates tariffs on 98.5-99% of exports, boosting trade in goods like agriculture, seafood, textiles, and electronics. Bilateral trade is expected to reach $10 billion. The CEPA fosters cooperation in tourism, transportation, energy, and financial services while positioning Vietnam as a key destination for UAE investment in high-tech agriculture, manufacturing, and infrastructure. UAE businesses gain access to ASEAN markets, while Vietnam leverages UAE’s trade networks for agricultural and sustainable growth. Strengthening non-oil trade and renewable energy collaboration, the CEPA is set to secure supply chains, promote sustainability, and unlock expansive economic opportunities for both nations.
