Vietnam-Germany trade to reach US$5 billion this year

Two-way trade turnover between Vietnam and Germany has steadily increased in recent years, and which is predicted to reach US$5 billion by the end of 2011.

This statement was confirmed by Nguyen Huu Thien, President of the HCM City Vietnam-Germany Friendship Association, at a meeting to celebrate the 21^st anniversary of German Unity Day on October 3.

Mr. Thien said Germany is one of Vietnam’s leading partners in the EU, importing footwear, garments, textiles, seafood and agricultural products while exporting machinery, construction equipment, automobiles and pharmaceuticals to Vietnam.

Germany now has 210 businesses and representative offices operating in Vietnam. It has invested in 139 projects with total registered capital of US$778 million, ranking 22^nd among 89 foreign investors in Vietnam.

The two countries are currently deploying a number of projects focused on infrastructure and energy. The German side is paying particular attention to building metro route No.2 in HCM City and Vietnam’s National Assembly House, as well as putting a new international airport in the south into operation.

At the meeting, the German Consulate General in HCM City, Conrad Cappell, said the German government is pursuing a policy of developing comprehensive relations with Vietnam in most fields.

Germany is interested in closer political ties with Vietnam as well as cooperation in culture, economics, science, development policies and legal procedures.

He emphasized that Germany will continue to assist Vietnam, and that the upcoming visit to Vietnam by the German Chancellor will bring the relations between the two countries to a new height. – VOV

Tags: Vietnam Germany trade