Germany, Vietnam foster strategic partnership

At the November 21 reception for German Vice Chancellor and Minister for Economic Affairs and Energy Sigmar Gabriel who is in Vietnam to attend the 14th Asia-Pacific Conference of German Business (APK) in HCM City, Dung believed the successful conference will open new investment and cooperation opportunities for German firms in Asia-Pacific region, including Vietnam.

Currently, Germany is the biggest European trade partner of Vietnam with a two-way trade turnover of nearly US$8 billion in 2013, accounting for more than 20% of the total bilateral trade value between Vietnam and the European Union (EU).

There remains huge potential for the two countries to boost cooperation in all fields for mutual development and benefit, Dung said.

Vietnam always welcomes and creates the best possible conditions for German businesses to invest and operate effectively and successfully in Vietnam in a long-term basis, Dung underscored, hoping that Germany will support for an early approval of the Partnership and Cooperation Agreement (PCA) and signing of the Free Trade Agreement between Vietnam and EU.

For his part, Vice Chancellor Sigmar Gabriel thanked relevant Vietnamese agencies for their close cooperation with German partners to organise APK 14 in HCM City, affirming that Germany attaches much importance to fostering cooperation with Vietnam, especially in economics, trade, investment, culture, education and tourism.

An early approval of PCA and signing of FTA will open major opportunities for the economic cooperation between Vietnam and the EU, including Germany, Gabriel said, adding that ASEAN’s strong and prosperous development will facilitate Germany and other EU countries’ investment in Southeast Asia and Asia.

Gabriel asserted that Germany shows its concern over recent developments in the East Sea as it has an important maritime route carrying more than 50% of global maritime transportation services.

He emphasised that freedom of navigation and global trade depend on stability and Germany opposes the use of forces to handle disputes and all sides should respect international law.

VOV