A view of the first meeting of the Vietnam-Germany Joint Committee for Economic Cooperation (Photo: moit.gov.vn)Hanoi (VNA)- The first meeting of the Vietnam-Germany Joint Committee for EconomicCooperation was held online on January 12, during which participants discussedthe cooperation possibilities in industry and trade, manufacturing-processing,energy, and education-training.
Addressing the event, Minister of Industry andTrade Tran Tuan Anh said that Vietnam attaches great importance to its strategicpartnership with Germany and hopes to further facilitate bilateral economic,trade, and industry cooperation.
The ministry has workedto provide optimal conditions for foreign-invested enterprises (FIEs),especially those from Germany, to operate in Vietnam, he said, as they are an importantfactor in the country’s economic growth.
He expressed an interestin expanding cooperation in energy with the German side, not only intraditional and renewable energy but also in the reserving and transmission ofpower, as well as in ensuring power security and distribution in a balanced,suitable, and economic manner.
Regarding industrial cooperation,Minister Anh suggested that the German side continue to provide favourableconditions for Vietnamese enterprises to engage more deeply in the productionchains for components and accessories of major German firms, thus contributingto promoting the supporting industry and creating a sustainable foundation for Vietnam’sindustrial sector.
He also proposed thatGermany support Vietnam in forming a centre for digital transformation in production,which would help it seize opportunities presented by Industry 4.0.
For his part, GermanMinister of Economic Affairs and EnergyPeter Altmaier said that Vietnam is a priority for Germany, and he pledgedthat the country would give full assistance to effective implementation intrade and industry with Vietnam, including the EU-Vietnam Free Trade Agreement(EVFTA), thus boosting bilateral ties.
The EVFTA is amechanism that helps businesses on both sides penetrate more deeply into eachother’s market, especially amid the COVID-19 pandemic, which has pushed bothsides to work harder for economic recovery.
The ministers agreedthat, in the future, the two sides will continue applying the Fast Trackmechanism to deal with obstacles facing businesses on both sides moreeffectively.
Concluding the meeting,the two ministers signed the minutes of the meeting and agreed on a time for thesecond meeting of the committee in 2022.
The Vietnam-GermanyJoint Committee for Economic Cooperation was set up following an agreementsigned by the Ministry of Industry and Trade and Germany’s Ministry for Economic Affairs and Energy. Itaims to realise the economic partnership between the two countries and lift tiesto a higher level while making them more practical, thus supporting businesses onboth sides.
Within the framework of the meeting, talks wereheld to discuss cooperation opportunities, especially in energy, digitaltransformation, and manufacturing-processing.
Germany is Vietnam’s largesttrade partner in Europe and consumes 19 percent of its exports to the EU whilealso serving as a gateway to other European markets.
Vietnam, meanwhile, ranks24th out of 144 goods providers of Germany, and 78th among 144importers of the country.
Figures from the General Department of VietnamCustoms show that as of the end of November, two-way trade stood at 9.08billion USD, with Vietnam’s exports reaching 6.05 billion USD, up 0.5 percentyear-on-year.
Germany had also investedin 378 projects in Vietnam as of that time, with total capital of over 2.2billion USD, ranking it 17th out of 139 countries and territoriesinvesting in the country. German projects are mostly inmanufacturing-processing, technical services, information and communications, andbanking and insurance./.
Addressing the event, Minister of Industry andTrade Tran Tuan Anh said that Vietnam attaches great importance to its strategicpartnership with Germany and hopes to further facilitate bilateral economic,trade, and industry cooperation.
The ministry has workedto provide optimal conditions for foreign-invested enterprises (FIEs),especially those from Germany, to operate in Vietnam, he said, as they are an importantfactor in the country’s economic growth.
He expressed an interestin expanding cooperation in energy with the German side, not only intraditional and renewable energy but also in the reserving and transmission ofpower, as well as in ensuring power security and distribution in a balanced,suitable, and economic manner.
Regarding industrial cooperation,Minister Anh suggested that the German side continue to provide favourableconditions for Vietnamese enterprises to engage more deeply in the productionchains for components and accessories of major German firms, thus contributingto promoting the supporting industry and creating a sustainable foundation for Vietnam’sindustrial sector.
He also proposed thatGermany support Vietnam in forming a centre for digital transformation in production,which would help it seize opportunities presented by Industry 4.0.
For his part, GermanMinister of Economic Affairs and EnergyPeter Altmaier said that Vietnam is a priority for Germany, and he pledgedthat the country would give full assistance to effective implementation intrade and industry with Vietnam, including the EU-Vietnam Free Trade Agreement(EVFTA), thus boosting bilateral ties.
The EVFTA is amechanism that helps businesses on both sides penetrate more deeply into eachother’s market, especially amid the COVID-19 pandemic, which has pushed bothsides to work harder for economic recovery.
The ministers agreedthat, in the future, the two sides will continue applying the Fast Trackmechanism to deal with obstacles facing businesses on both sides moreeffectively.
Concluding the meeting,the two ministers signed the minutes of the meeting and agreed on a time for thesecond meeting of the committee in 2022.
The Vietnam-GermanyJoint Committee for Economic Cooperation was set up following an agreementsigned by the Ministry of Industry and Trade and Germany’s Ministry for Economic Affairs and Energy. Itaims to realise the economic partnership between the two countries and lift tiesto a higher level while making them more practical, thus supporting businesses onboth sides.
Within the framework of the meeting, talks wereheld to discuss cooperation opportunities, especially in energy, digitaltransformation, and manufacturing-processing.
Germany is Vietnam’s largesttrade partner in Europe and consumes 19 percent of its exports to the EU whilealso serving as a gateway to other European markets.
Vietnam, meanwhile, ranks24th out of 144 goods providers of Germany, and 78th among 144importers of the country.
Figures from the General Department of VietnamCustoms show that as of the end of November, two-way trade stood at 9.08billion USD, with Vietnam’s exports reaching 6.05 billion USD, up 0.5 percentyear-on-year.
Germany had also investedin 378 projects in Vietnam as of that time, with total capital of over 2.2billion USD, ranking it 17th out of 139 countries and territoriesinvesting in the country. German projects are mostly inmanufacturing-processing, technical services, information and communications, andbanking and insurance./.
VNA
