Vietnam always provides favorable conditions for German investors to do business in the Vietnamese market, Prime Minister Nguyen Tan Dung has said.
PM Dung made the statement at his meeting with visiting German Vice Chancellor and Federal Minister for Economic Affairs and Energy Sigmar Gabriel in Ho Chi Minh City on Friday.
The Vietnamese government leader expressed his delight at the sound cooperation between the two countries in all fields, particularly trade and investment.
He also noted that the 14th Asia-Pacific Conference of German Business, which opened in Ho Chi Minh City on Thursday and is set to close on Saturday, opened up new business opportunities for German investors in regional countries, including Vietnam.
The premier proposed that Germany support the signing of a free trade agreement (FTA) between Vietnam and the EU as well as the early ratification of the Partnership and Cooperation Agreement (PCA).
Germany is now the largest European trading partner of Vietnam with two-way trade reaching nearly US$8 billion, or over 20 percent of the total Vietnam-EU trade, the Vietnamese leader noted.
In reply, the German Vice Chancellor said that the early ratification of the PCA and signing of the FTA between Vietnam and the EU would create great cooperative opportunities for businesses from both Vietnam and the EU, including Germany.
The guest said that the European country is keen to boost cooperation with Vietnam in all fields, especially the economy, trade, investment, culture, education, and tourism.
He added Germany is concerned about recent developments in the East Vietnam Sea, an important international maritime route that accounts for over 50 percent of the world’s sea cargo volume.
Therefore, the area’s security and stability are of vital interest for Germany and the EU in general, he added.