Deputy PM bullish on sound economic ties with Germany

VOV.VN - Permanent Deputy Prime Minister Pham Binh Minh has expressed his delight at the positive development in economic relations between Vietnam and Germany.

Speaking at a September 28 reception held for Jochen Flasbarth, state secretary in the German Federal Ministry for Economic Cooperation and Development, who is currently on a visit to the country, Deputy PM Minh affirmed that Vietnam continues to place importance on fostering the strategic partnership with Germany.

The Deputy PM said that the nation looks forward to German Chancellor Olaf Scholz’s upcoming trip to Vietnam in November which is expected to create a driving force to boost development between the two nations.
Germany is currently the country’s largest trading partner in Europe, while Vietnam represents the largest German trading partner in Southeast Asia and the sixth largest throughout all of Asia.

After taking effect two years ago, the Europe-Vietnam Free Trade Agreement (EVFTA) has made positive contributions to reinforcing economic ties between Vietnam and the EU, including Germany.

He cited statistics compiled by the General Department of Vietnam Customs that indicate how joint trade turnover topped US$10 billion last year, up 11% compared to 2020.

The figure reached close to US$7.3 billion during the first seven months of this year, an annual rise of 18.5%.

There are currently over 300 German enterprises conducting business in Vietnam, including several large corporations such as Siemens, Mercedez, Adidas, Bosch, and Braun. The total registered foreign direct investment of Germany into the Vietnamese market reached US$2.3 billion with 417 valid projects as of January this year.

Deputy PM Minh went on to suggest that Germany swiftly ratify the EU–Vietnam Investment Protection Agreement (EVIPA) to further promote investment between both sides and support the European Commission's early removal of the "yellow card" imposed on Vietnamese seafood.

He thanked Germany for making the nation a global partner in their development co-operation strategy to 2030, focusing on fields such as the environment, energy, and vocational training, along their important support in the field of climate change response.

The Deputy PM  said he hoped that in their role holding the presidency of the G7, Germany will help Vietnam to access the group’s green financial resources, international financial institutions, and large private corporations for activities in response to climate change.

In response, Flasbarth said he was impressed by the country’s socio-economic development achievements, its control of the COVID-19 pandemic, and its positive growth rate.

He affirmed that Germany desires to step up co-operative ties with Vietnam in all fields as well as commitments to help Vietnam meet its commitments at the 26th UN Climate Change Conference of the Parties (COP26), whilst it stands ready to share experience in the clean energy transition process.