Agricultural products, seafood, a number of industrial products such as textiles, leather and footwear are the groups of items that are identified with great potential for export to the UAE market.
Mr. Truong Xuan Trung – Vietnam Trade Office in the UAE (United Arab Emirates), said: Because the industrial and agricultural production of the UAE is quite limited, most food, food and consumer goods must be consumed. imported to meet the needs of the people. This is also one of the reasons that helped Vietnam’s trade surplus with the UAE reached $3.3 billion last year.
“In 2023, it is forecasted that the number of tourists to the UAE will increase sharply, leading to an increase in the demand for food, food, beverages, textiles, and footwear, which is a good opportunity for Vietnam to take advantage of the export of commodities. this,” said Mr. Truong Xuan Trung.
According to the representative of the Vietnam Trade Office in the UAE, there are a number of Vietnamese products that are occupying a large market share and will continue to be able to export to the UAE market this year.
Specifically, the seafood group, according to statistics in 2022, Vietnam’s seafood exports to the UAE increased by over 18% compared to 2021. Particularly for frozen pangasius and fillets, Vietnam is leading the world. exporters to the UAE, accounting for over 50% market share. “Currently some UAE partners have demand to import seafood, Vietnamese enterprises with export capabilities contact the deal to introduce them to partners,” said Mr. Truong Xuan Trung.
In the group of agricultural products, vegetables: dragon fruit, watermelon, seedless lemon, Vietnam is dominating the UAE market in particular, as well as the markets of Middle East countries and GCC (Regional Arab Cooperation Council). bay) in general. These items of Vietnam are being sold in supermarkets in the UAE at reasonable prices. The Vietnam Trade Office in the UAE recommends that domestic enterprises promote the export of some other fruits, especially those with year-round non-seasonal such as pomelo.
Besides, Vietnamese cashew nuts currently account for the largest market share in the UAE, up to 81%, export turnover in 2022 will reach over 55 million USD, up 14% compared to 2021; Vietnamese pepper also accounted for 60% of the UAE’s import market share, with a turnover of 58 million USD.
With rice, Vietnam is currently ranked third in the world after India and Pakistan in terms of exports to the UAE, the turnover in 2022 will reach 25 million USD, accounting for 7.3%, this is also a potential commodity group. to export to the UAE in the near future.
Not only agricultural – aquatic products, some processed industrial products of Vietnam are also having the opportunity to export to the UAE.
In which, the group of processed and manufactured products, according to Mr. Truong Xuan Trung, Vietnam can increase the products of bags, suitcases and wallets; wood and wood products; textile; Footwear.
In the group of processed and manufactured goods, electric cables have great potential because Dubai is promoting urbanization and infrastructure development, increasing the demand for electricity and energy in the commercial sectors. industrial and residential. The development of smart grid and upgrading of power transmission system will drive UAE power cable market growth. “According to statistics, the UAE’s electric cable market will reach $192.48 billion in 2021 and is forecast to grow at an average rate of about 4.2% from 2022-2030,” emphasized Mr. Truong Xuan Trung.
Although Vietnamese goods have been present, even occupying a large market share in the UAE, this is a fiercely competitive market in terms of price and quality. “Every Monday, UAE importers will consider the offer prices of the sending countries, the higher price will be rejected, even businesses that are exporting to the UAE this week, next week may lose orders. “, advised Mr. Truong Xuan Trung.
Besides, the UAE is an Islamic country, most food and beverages imported into the UAE must have Halal certification. This is a big barrier, domestic exporters need to pay attention. Labels affixed on food packaging should be translated into Arabic, clearly stating the name, product origin, content, etc.
The import tax on most items into the UAE is currently at 5%, but for sugary drinks, the import tax will be imposed at a much higher rate, up to 50%.
Regarding trade promotion activities in the UAE in February 2023, the representative of the Vietnam Trade Office in the UAE informed: Within the framework of Gulfood Dubai Expo 2023, taking place from February 20-24, 2023, the deal will supporting the Center for Trade and Investment Promotion of Ho Chi Minh City. Ho Chi Minh City held a trade seminar, expected to have 100 Vietnamese enterprises participate. This is a big event, the Vietnam Trade Office in the UAE informs businesses that if they cannot attend, they can visit the fair and seek cooperation and investment opportunities.
The representative of the Vietnam Trade Office in the UAE also suggested: The UAE side has sent a letter to the Minister of Industry and Trade, requesting that Vietnam soon consider signing a Comprehensive Economic Partnership Agreement with the UAE, in order to continue providing further support to the UAE. Vietnamese goods to the UAE, and at the same time further promote trade between the two countries.