German President and First Lady pay State visit to Vietnam

At the invitation of President Vo Van Thuong and his wife, President of the Federal Republic of Germany Frank - Walter Steinmeier and his wife will pay a State visit to Vietnam from January 23 to 24.

Vietnam and the Federal Republic of Germany established diplomatic relations on September 23, 1975. Since then, the friendship and cooperation between the two countries have developed positively, increasingly deeply, effectively and comprehensively.

During German Chancellor Angela Merkel's visit to Vietnam (October 2011), the two countries established a Strategic Partnership.

German President Frank-Walter Steinmeier. (Photo: Ministry of Foreign Affairs)

The two countries have signed many agreements creating a legal basis for economic cooperation such as: Double Taxation Avoidance Agreement; Investment Promotion and Protection Agreement; Maritime, Aviation and Trade Agreements.

Germany is Vietnam's largest trading partner in Europe (accounting for nearly 20% of Vietnam's exports to the European Union), and is also an important transit gateway for Vietnamese goods to other markets in Europe.

Two-way trade turnover between Vietnam and Germany in 2023 will reach more than 11 billion USD.

There are currently over 350 German businesses operating in Vietnam, including a number of multinational corporations such as: Siemen, B.Braun, Messer, Mercedes-Benz, Bosch and Deutsche Bank.

As of May 2023, Germany has 444 valid projects with a total registered investment capital of over 2.36 billion USD, ranking 4th/24 in the EU 5 and 18th/143 countries and territories investing in Vietnam.

Germany is also one of the countries that regularly and extensively provides ODA to Vietnam.

Since 1990, Germany has provided over 2 billion USD for ODA projects in Vietnam through technical cooperation (non-refundable aid) and financial cooperation (including non-refundable aid - about 40% and preferential credit - about 60%).

Since 2020, Vietnam has been classified as a “Global Partner” in Germany's Development Cooperation Strategy to 2030.

At the Government-level negotiations on Vietnam - Germany Development Cooperation on July 20 - 23, 2021, the German Government continued to commit ODA capital to Vietnam worth over 143.5 million Euros in the period 2022 - 2023.

Currently, the Vietnamese community in Germany has nearly 200,000 people, living widely throughout the country. In general, overseas Vietnamese in Germany have a relatively stable life, most of them working as salaried employees or small traders.

Tra Khanh

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