The Vietnamese National Assembly's ratification of the EVFTA marked a fairly good start but it is more important for Vietnamese companies to explore ways to optimize benefits from the trade deal to boost exports to Germany, according to Anh.

The EVFTA supplements the World Trade Organization (WTO), Anh told the Vietnam News Agency's correspondents, adding that Vietnam and Germany have basically completed required procedures to set up a joint committee for economic cooperation this year.

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Bui Vuong Anh, Trade Counselor at the Vietnamese Embassy in Germany

Germany plays a vital part in the EU and it is a major importer of most of Vietnam’s key products shipped to the EU, he said.

Germany has become one of Vietnam’s leading trade partner in recent years, with the two-way trade exceeding 15 billion USD in 2019, of which exports to Germany hitting nearly 11 billion USD.

The trade counselor urged domestic producers to enhance productivity and use of advanced technology in production while adding values for their products and meeting Germany’s health and food safety requirements.

They should bring into full play the special mechanism from both the EVFTA and the Vietnam – Germany joint committee for economic cooperation to gain broader access to the German as well as EU markets, he added.

Source: VNA