German
Chancellor Angela Merkel’s official visit to Vietnam from October 11-12 is
expected to further boost the intensive development of the Vietnam-Germany
relations in all fields.
The two-way trade between Vietnam and Germany
is on the rise
The Vietnam-Germany friendship and cooperation
have seen effective and comprehensive developments since the two countries set
up diplomatic ties on September 23, 1975.
The mutual trust and understanding between the
two countries have been further strengthened through maintaining the exchange
of high-ranking delegations and a political consultation mechanism between the
two Foreign Ministries that was established in 2008.
To date, the two countries have signed a
number of agreements as legal foundations for the bilateral economic
cooperation such as the Agreements on Double Taxation Avoidance, Investment
Encouragement and Protection, Maritime Shipping and Aviation.
Germany is now Vietnam’s largest trade partner
in Europe, accounting for 19 per cent of the country’s total export turnover to
the EU. Germany is an important gateway for Vietnamese goods to enter other
European markets.
In the first seven months of this year,
Vietnam’s exports to Germany reached $1.8 billion, representing a year-on-year
increase of 42 per cent, while its imports from the European country was $1.1
billion, up 14 per cent.
Vietnam mainly exports footwear, garment,
coffee beans, woodwork, seafood and leather products to Germany while importing
machines, equipment, autos, pharmaceuticals and chemicals from this nation.
However, Germany’s investment in Vietnam
remains modest with 167 valid projects capitalised at nearly $864 million by
August 2011, ranking 24 among 92 countries and territories investing in
Vietnam.
German investment focuses on processing,
manufacturing, power production and distribution, agro-forestry-fisheries,
banking and insurance. Most projects are located in Ho Chi Minh City, Hanoi,
the southern provinces of Binh Duong and Dong Nai.
Vietnamese businesses have so far had 14
projects in Germany with a total registered capital of nearly $31 million.
Germany is one of the largest official
development assistance (ODA) providers for Vietnam , focusing on economic
reform, sustainable economic development, environmental policies, the
sustainable use of natural resources, health, family planning and HIV/AIDS
prevention.
In 1990, Vietnam and Germany signed an
Agreement on Cultural Cooperation, creating a premise for boosting the cultural
cooperation and exchanges between the two nations, including performance tours
by Vietnamese art troupes.
The educational and training cooperation
between the two countries has also recorded goods results with Germany’s
provision of many MA and PhD scholarships for Vietnam per year. The two sides
are actively implementing a programme to train 85 Vietnamese postgraduates per
year in the German state of Hessen.
vir.com.vn
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment