Việt Nam, Germany boost cooperation in industry, trade, energy

The meeting between German and Vietnamese officials. — Photo courtesy of the Ministry of Industry and Trade

HÀ NỘI — The state visit to Việt Nam by German President Frank-Walter Steinmeier is expected to create new momentum for Việt Nam-Germany cooperation in key areas, including industry, trade and energy, Nguyễn Sinh Nhật Tân, Deputy Minister of Industry and Trade, told Michael Kellner, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action, in Hà Nội on Tuesday.

At the meeting, Tan and Kellner, who is also head of an economic group comprising representatives from 12 major enterprises accompanying the German President on the Việt Nam visit, discussed the implementation of the EU- Việt Nam Free Trade Agreement (EVFTA) and its impacts on bilateral relations.

The agreement has helped promote the export of many key products to Germany and creates favourable conditions for Việt Nam to increase the import of machinery, equipment and modern technology from Germany, raising Việt Nam’s ability to join the global value chain as well as making Vietnamese products’ competitiveness.

The EVFTA has promoted its role in speeding up Việt Nam’s institutional reform, contributing to creating an increasingly favourable legal framework for multi-sector cooperation between Việt Nam and Germany in the future.

The two countries’ recent effective cooperation projects were also reviewed during the meeting.

Tân said the approval of Việt Nam’s Power Plan VIII has created new development space for the energy industry, opening up opportunities for international investors, including those from Germany.

He said his ministry wishes to promote cooperation with the German government in the energy sector, such as renewable energy technology, and new energy, equipment serving the energy industry, advanced energy storage technology and high-performance fuel cells.

Kellner and the German business group evaluated Việt Nam as a leading dynamic and potential market in Southeast Asia. In particular, the German businesses expressed their interest in cooperating and investing in companies in Việt Nam in such specific fields as renewable energy, equipment, industrial measurement technology, new materials, environmental services and organisation of trade fairs. — VNS