Vietnam and the UAE agree on new economic deal

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Vietnam recently signed a new agreement with the United Arab Emirates. The agreement will make it easier for the two countries to trade with each other. 


The leaders of Vietnam and the UAE met in Dubai, the largest city of the UAE. There they officially agreed to the deal. It is called a Comprehensive Economic Partnership Agreement. 


This type of agreement reduces taxes and tariffs on goods traded between the two places. It will encourage more business and investment. Now over 99% of products from Vietnam can enter UAE markets more easily. And over 98% of UAE exports get the same benefit in Vietnam.


The UAE is already an important trading partner for Vietnam in the Middle East region. This new deal will help them do even more business in the future. It shows both countries want close economic ties.


This agreement also fits with Vietnam's plans to make friends with more countries around the world. In recent years it has strengthened relationships with countries like the USA, Japan, India and others. 


Deals like this with the UAE help Vietnam's economy. It also gives Vietnam new partners which can support it on important international issues. This openings a new chapter of cooperation between the two sides.

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