German news agency hails Vietnam’s economy

Vietnam is one of the fastest growing economies in the South East Asian region, reports the German Press Agency (DPA).

The remark was made coinciding with German Chancellor Angela Merkel’s official visit to Vietnam, starting on October 11. During her first ever visit, Ms. Merkel will discuss economic issues and hold political talks with Vietnamese leaders.

According to the DPA, “the miracle of the Vietnamese economy” began in 1986 when the country adopted an open-door policy and implemented major economic reforms. Last year, the country’s total gross domestic product (GDP) increased by nearly 7 percent. Vietnam’s key exports included petroleum, rice, coffee, garments and textiles, footwear and fish.

Last year, Vietnam exported goods worth EUR2.94 billion to Germany, up 28.4 percent, while Germany exported commodities worth EUR1.48 billion to Vietnam including machinery and chemical products. Germany is now Vietnam’s largest trade partner in the European Union. – VOV

Tags: Vietnam economic, Vietnam economic growth, Vietnam economy, Vietnam economy 2011

Posted by VBN on Oct 11 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry