German Chancellor Angela Merkel will make an official visit to Vietnam from October 11-12 to broaden and deepen the friendly and cooperative relations between the two countries.
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| The two-way trade between Vietnam and Germany is on the rise |
The German Chancellor will be accompanied by leaders and senior officials of some German ministries, sectors, localities and German businesses.
Vietnam and Germany have signed some bilateral deals to create legal framework for economic ties, including a double tax avoidance agreement, an investment promotion and protection agreement, a maritime agreement and an aviation agreement.
Germany is Vietnam’s biggest trading partner in Europe, accounting for 19% of the Vietnamese export to the European Union (EU). Vietnam is Germany’s 5th biggest exporter, after the US, China, Japan and the Republic of Korea.
Vietnam’s exports to Germany are expected to hit US $3 billion in 2011. Vietnam’s trade surplus to Germany increased from US $424 million in 2005 to US $593 million in 2008, US $631 million in 2000 and US $729 million in the first eight months of 2011.
Besides, Germany is a big investor in Vietnam. From 1988 to September 2011, the European country had poured investment of US $977 million in Vietnam, becoming the 24th biggest foreign investor in the Asian country.
Germany is a big and frequent ODA donor of Vietnam. Germany’s ODA focuses on economic reform and sustainable economic development assistance, environment policies, natural resource protection and sustainable use, water supply, waste treatment, healthcare, family planning, and HIV/AIDS prevention and fight.
Each year, over 100,000 German people visit Vietnam.