Germany supports early signing of EVFTA

Prime Minister Nguyen Xuan Phuc (R) welcomes German Minister for Economic Affairs and Energy Peter Altmaier

Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on March 25 for German Minister for Economic Affairs and Energy Peter Altmaier during which, he expressed Vietnam’s wish to step up cooperation with Germany, hoping the European nation will provide support in developing small- and medium-sized enterprises (SMEs), digital technology, and spurring startup development and innovation.

The cabinet leader described Altmaier’s visit to Vietnam as an important event towards strengthening the relations between the two nations.

PM Phuc asked Germany to beef up investment cooperation with Vietnam, especially in infrastructure and energy development projects, as well as tertiary education.

He underlined the need for both sides to promote the two-way trade turnover by fully tapping, he said, adding that Vietnam hopes Germany will officially sign and adopt the European Union-Vietnam Free Trade Agreement (EVFTA).

He thanked the German government’s willingness to advance cooperation with Vietnam while expressed his appreciation for the cooperation between German states and Vietnamese localities alongside the European country’s loosening of legal conditions for receiving Vietnamese labourers to work in the country.

In reply, the German Minister said his country desires to boost its friendship with Vietnam whilst highlighting huge potential for both sides to broaden their cooperation in the future.

He said he hopes that both sides will continue to work hand in hand in order to accelerate the progress of the Metro No.2 project in Ho Chi Minh City.

Altmaier said Germany wishes to develop artificial intelligence, digitalisation, and startups in Vietnam and affirmed his nation’s willing to invite Vietnamese businesses to join Germany’s SME renovation programme.

Germany stays ready to cooperate with Vietnam in renewable energy development and education and training, he told his host.

PM Phuc, in turn, said the Vietnamese government is redoubling efforts to fast-track the construction of Metro No.2, noting that the country is also promoting technology development in the face of the Fourth Industrial Revolution.

Germany’s ODA-funded projects have significantly contributed to Vietnam’s socio-economic development, he said while voicing his hope that the German government will continue to provide ODA capital for Vietnam in the process.