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Germany – a potential market for Vietnamese exports

Update: 9/29/2014

Germany is considered Vietnam’s biggest trade partner in the Europe, accounting for 20% of the Southeast Asian nation’s total exports to the European Union, and a gateway to other EU markets.

At a September 17 workshop in Hanoi, the Trade Promotion Agency (TPA) under the Ministry of Industry and Trade reported that two-way trade between Vietnam and Germany has flourished considerably in recent times, seeing a 7.5fold increase between 2010 and 2013 to nearly US$7.7 billion last year.

In the first 7 months of this year, Vietnam’s exports to Germany rose by nearly 5% to more than US$2.8 billion.

TPA Director Bui Huy Son said both countries have huge potential for stronger cooperation. As Vietnam and the EU are completing negotiations on a free trade agreement, accelerating Vietnam-Germany business connectivity will help deepen the two countries’ strategic partnership.

Vietnam mainly exports telephone handsets and components, garments, footwear, seafood and coffee to Germany, while importing machinery, equipment, chemicals and hi-tech products from the European nation./.

Source VOV News

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