Vietnam

The Vietnamese economy is enjoying one of the most sustained growth in the Asian area. Annual GDP growth rate was 7.2% in 2003, 7.5% in 2004 and 2005.

Despite a regular rise in the standards of living, Vietnam's economic situation still remains difficult with an approximate annual per capita revenue of 400 USD.

Initiated by the authorities, the Vietnamese economy is trying to progressively move from a centralised and planned economy to a multi-sector economy based on market mechanisms. The private sector has been racing ahead over the last few years.

Agriculture's sector provides one fourth of the GDP and employs 75% of the active population. Rice, coffee, tea and pepper are the main crops.

Vietnam is the world's fifth largest rice producer and one of the largest exporters. Fruits and vegetables growing is developing. Fishing employs 700,000 people and ranks third regarding the country's exports. Vietnam holds mining natural resources such as coal, tin, phosphates or copper. Oil production is rising, but the first oil refinery in Dung Quat which was supposed to be ready for 2005 is behind schedule in its construction. Textile, industry and building sectors are the driving forces of the economic development.

Foreign investments amount to 4% of the GDP and the main investing countries are Taiwan, South Korea, Hong Kong and Singapore.

Vietnam is a member of ASEAN and APEC. It has started procedures to ask for WTO accession. A cooperation agreement was signed in 1996 and regulates relations between EU and Vietnam.

The country's top three export partners are Japan, China and Australia. The main exported products are crude oil, textile, sea products and rice. Its top three import partners are Singapore, Japan and Malaysia. The main imported products are capital goods, hydrocarbons and textile products.

United Arab Emirates

The United Arab Emirates' economy has been surging since 2003 : GDP growth rate was 11.9% in 2003, 7.4% in 2004 and 7.3% in 2005. It may be 6.8% in 2006.

This growth is widely due to oil prices and OPEC quotas increase. The United Arab Emirates are located in the South of the Persian Gulf.

They are composed of seven Emirates including Dubai and Abu-Dhabi which both account for 80% of total GDP.

The Emirates have exceptional natural resources available. They respectively hold the fifth and the third largest world's gas and oil reserves. Oil represents 33% of the GDP and oil exports ensure 70% of foreign exchange inflows and State resources.

The government is conducting a policy of economic diversification, especially concerning tourism, and is also developing large free zones in order to attract foreign investors.

For the last five years, manufacturing activity has been in full swing, especially concerning metal processing, non-metallic mineral products, furniture, food processing and jewelry sectors. The other most dynamic sectors are industry, construction, tourism and transports.

UAE's market is very open and competitive. Since 1st January 2003, the country has been applying GCC's customs union tariffs (Gulf Cooperation Council, gathering Saudi Arabia, Bahrain, UAE, Kuweit, Oman and Qatar).

Usually, customs duties for goods entry into UAE amount to 4%.

The top import partners of UAE are Japan, the United States and the United Kingdom. The products mainly exported are vehicles, pharmaceutical and chemical products. Less than 20% of UAE's population is native.

Main Cities Population
Abu Dhabi - 928,000
Dubai - 674,000
Sharjah - 400,000
Short al Khaimah - 144,000
Ajman - 118,000
Fujeirah - 76,000