Conference boosts Vietnam-Germany trade, investment promotion

Illustrative image (Source: VNA)

Speaking at the event, jointly held by the Trade Office at the Vietnamese Embassy in Germany and the Ministry of Industry and Trade’s Trade Promotion Agency, Vietnamese Ambassador Nguyen Minh Vu stressed the bilateral cooperation has been expanded in many fields and seen remarkable achievements, especially after the two countries upgraded their ties to the strategic partnership level in 2011.

Germany has been one of Vietnam’s most economic partners in the European Union for years, with two-way trade hitting 14 billion EUR (16.39 billion USD) in 2019 – a fourfold increase compared with that of 2009.

Germany is one among four EU nations investing most in Vietnam with 361 valid FDI projects.

Meanwhile, Vietnam is among Germany’s three biggest economic partners in ASEAN, Vu stated.

He stressed that the EU-Vietnam Free Trade Agreement, which has become effective, and the pending EU-Vietnam Investment Protection Agreement will open up brighter prospects for economic collaboration between the two countries.

The diplomat expressed his hope that through the conference, participating enterprises will build up substantial and win-win cooperation to bring into full play opportunities brought about by the bilateral relations.

Director of the Trade Promotion Agency Vu Ba Phu affirmed that his agency always supports efforts to boost Vietnam-Germany trade cooperation, and well do its role as a bridge connecting the two countries’ businesses.

Participating enterprises from both sides share experience in opportunities and challenges brought about by the EVFTA./.

VNA