Home / Knowledge / News / Textiles / Vietnam, Germany to set up joint chamber of commerce
Vietnam, Germany to set up joint chamber of commerce
Jun '15
Courtesy: VCCI
Courtesy: VCCI
Vietnam and Germany will soon establish a joint chamber of commerce to boost trade of both sides to promote and increase business opportunities, especially when the Vietnam-EU Free Trade Agreement is signed, the Vietnam chamber of commerce and industry (VCCI) said on its website.

Dr Vu Tien Loc, president of VCCI and Jens Ruebbert, president of the Germany business association in Vietnam met at the VCCI headquarters in Hanoi to discuss the issue.

Dr Vu Tien Loc affirmed that Vietnam-Germany relations have been developed comprehensively. Germany is now the largest trade partner of Vietnam in Europe as it contributes 28 per cent of Vietnam-EU trade value. Germany is also an important gateway hub for Vietnamese goods to enter other EU markets. Vietnam and Germany now have very good opportunities to better tap their cooperation potential.

With the joint chamber of commerce, all issues arising in trade and investment relations would also be tabled to seek for best solutions for businesses, he said.

Ruebbert said Germany sees Vietnam as a rapidly developed potential market in Asia (after China and India). Many leading German corporations like Siemens, Metro, Mercedes-Benz, Deutsche Bank and Allianz opened business facilities and commit long-term investments in Vietnam. However, Germany’s investments in Vietnam remain very modest relative to potential and expectations of both sides.

He hoped that the proposed joint chamber of commerce will receive active support from Vietnam for the early completion of this establishment.

Vietnam enjoys a trade surplus with Germany. Bilateral trade touched $1.28 billion in the first two months of 2015, up 15.9 per cent year on year, of which Germany’s share was $372.33 million, up 2.7 per cent, and Vietnam’s share was $913.80 million, up 22.1 per cent.

Many Vietnamese businesses have regularly participated in international exhibitions and trade fairs in Germany like Anuga Colonge, Tendence, Koblenz, Resale Frankfurt and Hannover Expo. Through these events, they have established partnership relations and signed contracts with many German importers and other foreign businessmen. Garment and textile are the biggest exports to Germany, followed by footwear, coffee, handicrafts, seafood, computers and components.

Germany is the largest supplier of advanced machines, equipment and technology for national industrialisation and modernisation of Vietnam. In addition, Vietnam imports pharmaceuticals, plastics and industrial materials from Germany. (SH)

Fibre2fashion News Desk – India

Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search