The Vietnam - Germany Economic Cooperation Conference and Trade Exchange took place in Berlin on Oct. 5 (Photo: VNA).

This is one of the big and important events within the framework of the trade promotion program, attracting the participation of more than 50 delegates from associations, trade and investment promotion organizations, and Vietnamese businesses. South and Germany in the fields of medicine, textiles, handicrafts, consumer goods, and processing.

Held by the Department of Trade Promotion in coordination with the Vietnamese Embassy in Germany, the Delegation of German Industry and Commerce in Vietnam (AHK Vietnam), and DIHK, the event attracts more than 50 delegates from associations, trade and investment promotion organizations, and Vietnamese and German businesses in medicine, textiles, handicrafts, consumer goods, and processing.

AHK Vietnam's Director of Foreign Trade Volker Treier assessed that economic and trade cooperation between Germany and Vietnam has achieved many positive results in recent years, especially since the Free Trade Agreement between the European Union and Vietnam (EVFTA) took effect.

German businesses have created about 50,000 jobs in Vietnam, which also shows the great potential of the Vietnamese market. The two sides have many potential areas with great opportunities for cooperation, including renewable energy and vocational training, which not only attract workers from Vietnam. but also helps Germany's scarce skilled workforce.

Vietnamese Ambassador to Germany Vu Quang Minh emphasized that the strategic and trusting partnership between Vietnam and Germany over the past 12 years has been positively developing in all fields and at all levels, contributing to double the bilateral trade turnover.

Germany is among Vietnam's significant investors. The Vietnamese and German economies complement each other with great potential for cooperation. According to Ambassador Vu Quang Minh, German businesses in Vietnam have the opportunity to reach out to countries in the region through many regional cooperation frameworks of which Vietnam is a member.

Ambassador Vu Quang Minh hopes that businesses of the two countries can make good use of the opportunities to further strengthen bilateral cooperation. He hopes Germany and Vietnam can soon sign a framework agreement on labor cooperation to further promote partnership in this field.

Vu Ba Phu - Director of the Department of Trade Promotion, Ministry of Industry and Trade (Photo: VNA).

At the Conference, Vu Ba Phu - Director of the Department of Trade Promotion, Ministry of Industry and Trade said that Vietnam's trade and investment promotion activities have achieved positive results, increasingly affirming its important role and contributing significantly to the growth and expansion of export markets. In particular, trade and investment activities between Germany and Vietnam in recent years have been a bright spot in bilateral relations. The two countries have signed many agreements to create a legal basis for economic cooperation.

According to Phu, Germany is Vietnam's largest trading partner in Europe, accounting for nearly 20% of Vietnam's export turnover to the EU. Germany is also an important transit gateway for Vietnam's exports to other markets in Europe. As the state management agency for trade and investment promotion, the Department of Trade Promotion is willing to coordinate with German authorities to implement solutions to support businesses from both sides in promoting trade and investment.

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