Update: 11:02 | 13/11/2022
German Chancellor Olaf Scholz’s upcoming official visit to Vietnam will offer a good opportunity for the two countries to further beef up their bilateral relations, an expert from the German Asia-Pacific Business Association (OAV) has said.
Dr. Daniel Muller, regional manager for ASEAN of the OAV, said for in the German Government's Asia-Pacific policy at present, Vietnam is one of the countries selected in an open and ongoing debate in Germany about which countries Germany will choose for closer cooperation in the future.
German technologies introduced at a festival in Ho Chi Minh City in November 2020.
Vietnam's increasingly important position in ASEAN also makes it a much-needed partner for Germany, he said, adding that good cooperation with Vietnam can promote stability and peace throughout Southeast Asia.
According to the expert, Vietnam is a very attractive market, where many cooperation opportunities and economic potentials have not been fully exploited, and the Vietnamese market can make an important contribution to the goal of diversifying activities of German businesses in Asia.
Regarding the free trade agreement between the European Union and Vietnam, Müller said it has importantly contributed to the rapid growth in two-way trade in recent times.
Efforts of German enterprises to increase their participation in the Vietnamese market, as well as Vietnamese fims’ endeavour to make inroads into the German market, show that economic and trade relations between the two sides will become stronger in the near future, he said, adding that the deepened political ties between the two countries will also contribute to this.
According to Müller, German businesses are seeking to gradually exploit more and more potential of the Vietnamese market, and further increase their investment in the Southeast Asian country, especially in medical technology, energy, infrastructure or labour-intensive industries.
Vietnam should pay more attention to accelerating institutional reform in order to increase the efficiency of management and economic development, he went on.