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Vietnam Today

PM heads to Germany and G20 Summit

Released at: 09:16, 05/07/2017

PM heads to Germany and G20 Summit

PM Nguyen Xuan Phuc and his spouse. Photo: VNA

Germany is Vietnam's largest trading partner in Europe, with two-way trade reaching $8.78 billion last year and $3.8 billion in the first five months of 2017.

by Nguyen Quoc

Prime Minister Nguyen Xuan Phuc left Hanoi on the night of July 4 for a visit to Germany from July 5 to 6 at the invitation of Chancellor Angela Merkel and to attend the G20 Summit in Hamburg on July 7 and 8.

The Vietnam News Agency wrote that the Prime Minister’s visit to Germany and his attendance at the G20 Summit is expected to showcase Vietnam as a dynamic country and a trusted and responsible member of the international community.

Vietnam and Germany established diplomatic ties on September 23, 1975 and the bilateral friendship and cooperation have developed extensively since.

Mutual trust and understanding have been strengthened through the regular exchange of high-level delegations and cooperative mechanisms. During the visit to Vietnam by Mrs. Merkel in October 2011, leaders of the two governments signed a joint statement on establishing a strategic partnership that put forward targets and measures to intensify bilateral cooperation.

Germany is Vietnam’s largest trading partner in Europe, with two-way trade reaching $8.78 billion last year and $3.8 billion in the first five months of this year. Vietnam mainly ships mobile phones and computer components, garments and textiles, footwear, coffee, other agricultural products, and seafood to Germany, and imports machinery, spare parts, automobiles, chemicals, pharmaceuticals, and milk products.

In terms of investment, as at April 20, Germany had 285 projects worth $1.41 billion in Vietnam, ranking it fifth in the EU and 20th among the 116 countries and territories investing in Vietnam. There are about 300 German enterprises operating in the country.

Meanwhile, Vietnam has 30 investment projects in Germany with total capital of $124.8 million, focusing on banking-finance, automobiles, real estate, services, and informatics.

Since 1990, Germany has provided some $2 billion in official development assistance (ODA) projects to Vietnam through technical and financial cooperation. The German Government pledged aid worth more than $682.1 million for projects in energy, vocational training, and the environment.

Germany is one of the most important markets for Vietnam’s tourism sector. In the first three months of this year, 61,923 Germans visited the country, up 13.2 per cent year-on-year. From July 1, Vietnam piloted visa waivers for German citizens staying for 15 days or less.

German is being taught as a second 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 and 8 in Hamburg. As the host of APEC 2017, Vietnam was invited to conferences and meetings within the G20 framework.

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