Room remains to amplify Vietnam-Germany cooperation: diplomat

08:00 | 11/10/2022 Vietnam and other regions Follow Ven.vn on

Potential for cooperation between Vietnam and Germany remains huge with new opportunities, as Germany is currently an economic locomotive of the European Union (EU), and also Vietnam’s largest trading partner in the region, according to Ambassador Vuu Quang Minh.

BERLIN — The potential for cooperation between Vietnam and Germany remains huge as Germany is currently an economic locomotive of the European Union (EU) and is also Vietnam’s largest trading partner in the region, according to Ambassador Vũ Quang Minh.

room remains to amplify vietnam germany cooperation diplomat

Trade between Vietnam and Germany reached US$6.2 billion in the first half of 2022, up 15 percent year-on-year

Since the two countries set up their strategic partnership in 2011, two-way trade doubled to US$11.2 billion in 2021. The figure hit US$6.2 billion in the first half of this year, up 15 percent year-on-year.

As of May 31, German firms had 426 investment projects worth US$2.31 billion in Vietnam, while companies from the Southeast Asian nation ran 36 projects totaling US$283 million in the European country.

In the context of the two countries and the whole world quickly recovering post COVID-19, bilateral trade and investment are forecast to grow further in the coming time, stated Minh.

In addition, Vietnam is seen as a reliable partner and a leading attractive market of German businesses and investors, he said, adding that many delegations of German firms are scheduled to make fact-finding tours to the Vietnamese market from now to the end of this year.

Viietnam also boasts advantages to cooperate with German energy companies to develop clean and renewable energies such as wind power, solar power, and hydrogen production. Germany recently backed the Group of Seven's (G7) selection of Viietnam as a global partner in the just energy transition.

The diplomat affirmed that this is a golden opportunity for the two countries to promote bilateral cooperation and bring their strategic partnership to new heights, not only in politics and security, but also in economics, trade, science and technology, education and training, and labor cooperation.

Source: VNS

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