PM’s Germany visit to transmit message about dynamic Vietnam
Vietnam and Germany established diplomatic ties on September 23, 1975. Since then, the bilateral friendship and cooperation have developed extensively.
Mutual trust and understanding have been strengthened through the regular exchange of high-level delegations and cooperative mechanisms. During the Vietnam visit by Chancellor Angela Merkel in October 2011, the two Government leaders signed a joint statement on establishing a strategic partnership which put forward targets and measures to intensify bilateral collaboration.
Germany is Vietnam’s largest trade partner in Europe with two-way trade reaching US$8.78 billion last year and US$3.8 billion in the first five months of 2017. Vietnam mainly ships mobile phones and computer components, garment and textile, footwear, coffee, agricultural and aquatic products to Germany and imports machinery, spare parts, automobiles, chemicals, pharmaceuticals and milk products from the European nation.
In terms of investment, Germany considers Vietnam a promising market with rapid development in Asia. As of April 20, the European country had 285 projects worth US$1.41 billion in the country, ranking fifth in the European Union and 20th among 116 nations and territories investing in Vietnam. There are about 300 German enterprises operating in Vietnam.
Meanwhile, Vietnam has 30 investment projects in Germany with total capital of US$124.8 million, focusing on finance-banking, automobiles, real estate, services and informatics.
Since 1990, Germany has provided some 2 billion USD for Official Development Assistance projects in Vietnam through technical and financial cooperation. The German Government pledged aid worth more than 600 million EUR (US$682.1 million) for projects in energy, vocational training and environment in the Southeast Asian nation.
Germany is one of the most important markets for the Vietnamese tourism sector. In the first three months of this year, 61,923 Germans visited Vietnam, up 13.2 percent year-on-year. From July 1, Vietnam piloted visa waivers for German citizens staying for 15 days or less.
German is being taught as the second foreign language in 13 schools nationwide thanks to a German Foreign Ministry initiative.
There are currently 176,000 Vietnamese people living in Germany. Several States have also piloted the teaching of the Vietnamese language in high schools, such as Brandenburg, Berlin, Sachsen and Sachsen Anhalt.
In addition, the two countries have signed agreements to create a legal foundation for economic cooperation, including an agreement on double taxation avoidance and another on investment protection and encouragement.
Themed “Shaping an interconnected world”, the G20 Summit will be held on July 7-8 in Hamburg. As the host of the APEC 2017, Vietnam was invited to conferences and meetings within the G20 framework this year.
Related News
Wood exports started well
13:26 | 20/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
How more than 6 tons of smuggled gold transported to Vietnam?
07:49 | 05/04/2024 Anti-Smuggling
Latest News
VN needs drastic reforms to create firm ground for economic growth: experts
13:57 | 26/04/2024 Headlines
E-commerce contributes $7 million in taxes during 2022-23
13:56 | 26/04/2024 Headlines
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
13:51 | 25/04/2024 Headlines
Investor confidence gains traction on improved business climate
13:46 | 25/04/2024 Headlines
More News
Vietnam's exports to Canada lead among CPTPP countries
09:41 | 25/04/2024 Headlines
Many new regulations aim to drastically remove the IUU "Yellow Card"
15:36 | 24/04/2024 Headlines
PM chairs meeting of national committee for digital transformation
13:42 | 24/04/2024 Headlines
Seize the golden opportunity as retail giants look for supplies in Vietnam
10:34 | 24/04/2024 Headlines
Government’s action programme cracks down on illegal fishing
13:53 | 23/04/2024 Headlines
PM calls on ASEAN to pen strategic development vision
13:50 | 23/04/2024 Headlines
Forum to discuss new initiatives on ASEAN future vision: Deputy FM
15:13 | 22/04/2024 Headlines
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Green transformation and ESG practice to participate in the global competition
18:11 | 21/04/2024 Headlines
Your care
VN needs drastic reforms to create firm ground for economic growth: experts
13:57 | 26/04/2024 Headlines
E-commerce contributes $7 million in taxes during 2022-23
13:56 | 26/04/2024 Headlines
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
13:51 | 25/04/2024 Headlines
Investor confidence gains traction on improved business climate
13:46 | 25/04/2024 Headlines
Vietnam's exports to Canada lead among CPTPP countries
09:41 | 25/04/2024 Headlines