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Vietnam, EU partnership prospects bright: German experts

The development potential for trade partnership between Vietnam and the EU is bright thanks to abundant opportunities brought by the soon-to-be-signed EU-Vietnam Free Trade Agreement (EVFTA), according to a German expert.
Vietnam, EU partnership prospects bright: German experts ảnh 1Automobile assembling at Vinfast factory (Photo: VNA)

Berlin (VNA) – The development potential for tradepartnership between Vietnam and the EU is bright thanks to abundantopportunities brought by the soon-to-be-signed EU-Vietnam Free Trade Agreement(EVFTA), according to a German expert.

Dr. Gerhard Will, a Southeast Asia expert from the Berlin-based German Institute for International andSecurity Affairs (SWP), further saidthat in order to make full use of opportunities for boosting bilateral economicrelations, Vietnam should make careful analysis and forecast of chances andchallenges.

He advised Vietnam to focuson enhancing productivity and developing high-quality products with greatervalue, while improving the quality of human resources.

Meanwhile, Dr. Daniel Muller,ASEAN Regional Manager of the German Asia-Pacific Business Association (OAV),held that amidst the global trade tension, Vietnam is a promising gateway forGerman enterprises to reach the ASEAN.

Alongside, the96-million-strong economy has seen increasing income of locals, while theGermany-Vietnam trade partnership has been developing, he said.

Through its free tradeagreements, Vietnam has expressed a strong message of openness amidst theincreasing trade protectionism, he said, adding that with its diverseadvantages, Vietnam can make stronger competition for deeper trade cooperationwith Germany.

Dr. Muller lauded theexchange of high-level visits between Germany and Vietnam since the beginningof 2019. In this November, the OVA will send a delegation to Vietnam to explorethe country’s food processing, health care and pharmaceuticals sectors, whichthe German side see bright prospects of partnership for both sides.

He also said that in terms offoreign investor attraction policies, Vietnam should focus on areas ofinformation and communication technology, garment and textile, and automobile.

Vietnam should also paygreater attention to promoting its internal strength and improve its capacityin producing domestic economic values through such project as Vinfast, theofficial advised.-VNA 
VNA
#trade partnership between Vietnam and the EU #EU-Vietnam Free Trade Agreement (EVFTA) #German Institute for International and Security Affairs (SWP) #German Asia-Pacific Business Association (OAV) #Vietnam #Vietnam news #Vietnam News Agency European Union
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