Deputy Minister Hằng highlights breakthroughs in Vietnam’s cooperation with the Middle East and Africa, focusing on political ties and economic investments. Notable developments include high-level visits and the Comprehensive Economic Partnership Agreement with the UAE. Despite challenges, the regions show promising growth and diversification, setting a strategic stage for enhanced relations moving forward.
Deputy Minister of Foreign Affairs Nguyễn Minh Hằng emphasized that significant breakthroughs have set a promising stage for enhanced cooperation between Vietnam and nations in the Middle East and Africa. These regions, with over 36 million square kilometers and a combined population of more than 1.6 billion, present extensive opportunities due to their abundant natural resources and strategic locations, despite ongoing political and economic challenges.
In 2024, geopolitical tensions did persist, but notable advancements were observed in the regions. Countries are diversifying their foreign relations and easing internal conflicts, while making strides in economic reforms that promote autonomy and reduce oil dependency. Particularly, Gulf nations are leading in areas like green transition and digital transformation, providing a solid backing for fostering Vietnam’s cooperation with these regions.
Minister Hằng noted the growth of political-diplomatic relations between Vietnam and these countries, marked by high-level exchanges. Prime Minister Phạm Minh Chính’s visits to the UAE and Qatar, along with participation in the Future Investment Initiative, underscore Vietnam’s determination to enhance strategic partnerships. The agreement to elevate Vietnam-UAE relations to a Comprehensive Partnership is significant, expanding Vietnam’s network of partnerships across 14 countries.
The visits by the Presidents of Guinea-Bissau and Mozambique also symbolize a strengthening of ties, emphasizing the importance of traditional connections and collaboration in sectors such as agriculture and trade, while exploring new ventures in areas like infrastructure and energy.
Economic cooperation between Vietnam and these regions stands as a key pillar. Investment from Middle Eastern and African nations into Vietnam surged to $5.1 billion within the first ten months of 2024, indicating a 113% increase. Additionally, the Comprehensive Economic Partnership Agreement (CEPA) with the UAE marks a first for Vietnam, promising enhanced access to Middle Eastern markets.
Looking ahead to 2025, while complexities in regional stability are anticipated, economic growth is projected to remain positive at over 4%, indicating resilience from the reforms being implemented. The Ministry of Foreign Affairs plans to further solidify agreements made during high-level meetings, effectively promoting trade and investment cooperation to bolster relations with these regions.
The strategy involves strengthening political ties through increased delegation exchanges while assessing existing projects to establish long-term cooperative frameworks. Also, Vietnam aims to enhance its economic diplomacy focusing on businesses and localities.
Furthermore, the emphasis will be on cultural diplomacy and safeguarding the rights of Vietnamese citizens and firms operating in these regions, promoting a more comprehensive and positive bilateral engagement.
In 2024, Vietnam is poised to elevate its cooperative relations with the Middle East and Africa, regions that present vast opportunities due to their strategic locations and diverse resources. Despite current global economic hurdles and regional conflicts, many nations in these areas are progressing through reforms, moving towards diversification, and enhancing cooperation with Vietnam.
Vietnam’s cooperation with Middle Eastern and African nations is on the brink of significant growth, driven by strategic partnerships and investment opportunities. High-level political dialogues and economic agreements are expected to create a robust foundation for bilateral relations moving forward. The outlook emphasizes a focus on sustainable trade, cultural exchanges, and safeguarding national interests as Vietnam strengthens its ties in these dynamic regions.
Original Source: vietnamnews.vn