Two-way trade between Vietnam and Germany has increased continuously in recent years and is expected to reach US$5 billion in 2011, said Mr Nguyen Huu Thien, President of the Vietnam - Germany Friendship Association in Ho Chi Minh City, at a recent ceremony to mark the 21st anniversary of German Unity Day in Ho Chi Minh City. This is also an inspiring number as it proves the lifting of the bilateral ties to a new level.
He said Germany is Vietnam’s leading EU trade partner. The EU’s largest economy mainly imports footwear, garment, seafood and agricultural products from Vietnam. Especially, Germany is the largest importer of Vietnamese coffee and black pepper. Meanwhile, Vietnam imports machinery, electrical appliances, equipment for mining and construction, garment, automobiles and pharmaceutical industries from Germany.
Currently, Germany has 210 businesses and representative offices operating in the country, investing in 139 projects with total registered capital of US$778 million, and ranking 22nd among 89 foreign investors in Vietnam. The two sides are currently deploying a number of projects focused on infrastructure and energy. Germany is paying particular attention to building metro route No.2 in HCM City and Vietnam’s National Assembly building, operating a new international airport in the south.
At the meeting, the German Consul General in HCM City, Conrad Cappell, said the German Government is pursuing a policy of developing comprehensive relations with Vietnam in most fields especially in politics, culture, economics, science, development policies and legal procedures. He added that Germany will continue to assist Vietnam, and that the upcoming visit to Vietnam by German Chancellor Angela Merkel will bring relations between the two countries to a new high.
Vietnam’s export to Germany continued to rise in the first half of 2011. According to the General Department of Customs, the Southeast Asian nation earned US$1.5 billion from exports to Germany, up 44.94 percent year on year, including US$246.3 million in June, an increase of 3.73 percent over May.
According to experts, to boost exports to the German market, Vietnamese companies need to eliminate perpetual weaknesses. They have not been able to tap their own strengths like using local materials to produce exports. As techniques are little used in traditional products like embroidery, sculpture and weaving, they are not customised for specific markets. Hence, Vietnamese companies need to invest to create a wide category of products to increase values.
Lan Ngoc
Vietnamese
