Vietnam helps shaping an interconnected world with the G20-group



05 Jul

Vietnam helps shaping an interconnected world with the G20-group

Wednesday, 05 July, 2017


Prime Minister Nguyen Xuan Phuc met German Chancellor Angela Merkel in the course of the 11th ASEM-summit

Prime Minister Nguyen Xuan Phuc visits Germany from 5th to 8th July and participates in the summit of 20 leading industrialized countries and emerging markets in Hamburg. The visit strengthens not only particularly the strategic partnership between Vietnam and Germany but also the relationships between Vietnam and the members of the G-20 group generally. As host country of the Asia-Pacific Economic Cooperation (APEC 2017) this is also an opportunity for Vietnam to express its opinions about the shape of an interconnected world among the G-20 group.

Prime Minister Nguyen Xuan Phuc’s visit to Germany takes places at a moment of strong intensification in all areas of the strategic partnership between Vietnam and Germany. Apart from this, Vietnam has good relationships with the G20 members. Currently, Vietnam shares strategic partnerships with ten G20 members and one comprehensive partnership with two other G20 member states.


Great potential for strategic partnership between Vietnam and Germany

Five years after the commencement of the strategic partnership between the two countries, Germany currently becomes the leading partner of Vietnam in the EU. The bilateral trade volume accounted for 10 billion US-Dollar. The Vietnamese Ambassador in Germany Doan Xuan Hung said that there is still much potential for the cooperation between both countries to be leveraged:

”Germany is the fourth-largest economy worldwide, and one of the leading countries in the world with its premier industry. Precision engineering is growing in Germany. German federal states are large and to some extent independent from the Federal Government. The gross domestic product of a German federal state of ten million inhabitants, for instance, is 480 billion US-Dollars. That’s more than double the gross domestic product of Vietnam. We are glad that Germany wants to cooperate with Vietnam.”

The visit of Premier Nguyen Xuan Phuc to Germany plays an important role in the promotion of the relationships between both sides. The talks between Nguyen Xuan Phuc and Angela Merkel as well as other leading politicians from Germany will foster the mutual understanding and commitment to an intensification of the cooperation. Moreover, with an interest in Vietnam, the German business community is expecting strong messages from Prime Minister Nguyen Xuan Phuc. Thereto Ambassador Doan Xuan Hung comments:

“This is a great opportunity not only for Vietnam, but also for Germany. Many German friends have told me, that in the past they had paid little attention to Vietnam. Now they agree, that Vietnam is currently the leading country in terms of market opening. According to them, this is a great opportunity that both sides should seize in order to link both economies.”

Vietnam helps shaping an interconnected world

This year’s G20 summit with the motto “Shaping an interconnected world” shall comprise five discussions with three agenda-foci. It deals with the organization of the requirements for self-improvement, the increase of sustainability and the enhancement of a sense of responsibility. As host of the APEC 2017 Vietnam was invited to the participation in conferences and meetings as part of the G20 summit. The contents of the agenda priorities of the G20 summit are identical with the preferred contents of Vietnam in the APEC year 2017. Both panels aim to promote sustainable growth, a strengthening of trade and investment links and the promotion of reformations and innovation. Moreover, the solution of problems in the economy, society and the work in a digital economy under the influence of the “fourth industrial revolution” are addressed. On top of that, the cooperation on climate change issues is regarded. Nine members of the G20 group are at the same time economic members of the APEC. For this reason it is an advantage for G20 and APEC, the forums with importance worldwide, to share and cooperate with regards to solutions on important questions of the global economy. As host country of APEC 2017 Vietnam wants to cooperate with Germany as host of the G20 summit 2017, and invoke member states to find solutions to global economic questions.

Aim of the visit to Germany and the participation in the G20 summit by Prime Minister Nguyen Xuan Phuc is to strengthen the strategic partnership with Germany. At the same time Vietnam wants to show the international community that it is a dynamic developing country and a reliable and responsible partner. Vietnam wants to contribute to global efforts in finding solutions for common issues. In this way, the authority and role of Vietnam in the world are enhanced.






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