Economics and trade - pillars of Vietnam-Germany cooperation
On September 23, 1975, Vietnam and Germany established diplomatic relations. After half a century, from the first modest steps, Vietnam - Germany relationship has continuously developed strongly, expanding in many fields from politics, economics, culture, education to science - technology cooperation.
Vietnamese Ambassador to Germany Nguyen Dac Thanh commented that, along with diplomacy, politics, economic - trade relations, business investment, development cooperation are important pillars of the Strategic Partnership between Vietnam and Germany.
Germany is currently Vietnam's leading trade partner in the European Union (EU) and the 12th largest in the world. Not only that, Germany is also Vietnam's fourth largest European investment partner.
Nearly 15 years since establishment of the strategic partnership, trade turnover between the two countries has doubled from 5.6 billion USD in 2011 to 11.1 billion USD in 2024 (According to German statistics, it is even higher due to the inclusion of imports through third countries). Many German enterprises are very interested in investment and business environment in Vietnam in strategy of diversifying and adjusting supply chain to avoid being too dependent on one economy.
Also according to data from Department of Foreign Market Development (Ministry of Industry and Trade), Germany is Vietnam's leading trading partner in Europe, accounting for more than 17% of Vietnam's exports to the EU (according to 2024 data from Vietnam Customs) and is also an important transit gateway for Vietnamese goods to other markets in Europe.
In 2024, total two-way trade turnover between two countries reach over 11.7 billion USD, an increase of 5.5%. Of which, Vietnam's exports to Germany reached about 7.9 billion USD, up 7.3% and Vietnam's imports from Germany reached 3.8 billion USD, up 2.1% over the same period in 2023, with a trade surplus of over 4.1 billion USD, up 12%.
Vietnam's main exports to Germany are machinery, equipment, tools and spare parts; computers, electronic products and components; coffee; cashew nuts; seafood; textiles; footwear of all kinds; handbags....
Main imports from Germany are machinery, equipment, tools and spare parts; computers, electronic products and components; pharmaceuticals; chemicals; chemical products; plastics; milk and dairy products...
By the end of August 2025, two-way trade turnover between Vietnam and Germany reached over 8.82 billion USD, an increase of 13.8% compared to the first 8 months of 2024. Of which, Vietnam's exports to Germany reached over 6.2 billion USD and imports reached over 2.61 billion USD, up 17.7% and 5.4% respectively compared to the same period in 2024. Vietnam and Germany also have many important cooperations in the fields of energy, processing and manufacturing industry.
In terms of investment, Germany's investment in Vietnam is still very modest compared to the potential and expectations of both sides. As of August 31, 2025, Germany has 505 valid investment projects in Vietnam with a total capital of 2.917 billion USD, ranking 17th out of 185 countries and territories investing in Vietnam. Over 3/4 of projects and 2/3 of Germany's investment capital in Vietnam focus on processing, manufacturing, technical services, information and communication, banking and insurance. Analyzing advantages in economic and trade cooperation between Vietnam and Germany, Ambassador Nguyen Dac Thanh said that it is promoting cooperation in accordance with foreign policies and guidelines of both sides, serving common interests of the people, businesses and localities of the two countries.
"In terms of economy, two economies are highly open, have a lot of potential and complement each other, as well as dynamic activities of businesses of the two countries" - Ambassador Nguyen Dac Thanh shared.
Strategic market, enhancing Vietnamese brands
In context of Vietnam preparing the foundation to enter the "take-off" phase of development and new German coalition government prioritizing the focus on solving economic issues, potential for cooperation between Vietnam and Germany is still very large, especially in fields of economics, trade, investment, science and technology and innovation.
Ambassador Nguyen Dac Thanh said that two sides should promote early ratification of the Vietnam - EU Investment Protection Agreement to create new momentum for cooperation. Vietnamese enterprises need to take advantage of opportunities to access German market, especially in fields of agricultural products, textiles and electronics through EVFTA.
Sharing more about trade opportunities with the German market, Ms. Dang Thi Thanh Phuong, Vietnam Trade Counselor in Germany, said that the German market has many prospects, especially when Vietnam has the advantage of having signed and implemented the EVFTA.
From August 2025 onwards, over 90% of export tax lines to EU will be 0%, which is a great advantage for domestic enterprises to diversify export markets, contributing to "sharing the burden" with the US market.
In the coming period, EVFTA will enter a comprehensive implementation phase when most tax lines are reduced to 0%, opening up great opportunities for Vietnamese enterprises. However, "Vietnam is about 7 years ahead of competitors who do not have a free trade agreement (FTA) with the EU. If we do not take advantage of this advantage, we will lose this advantage to other countries" - Counselor Dang Thi Thanh Phuong commented
EU market, including Germany, is a market with high requirements for sustainability, safety and transparency. Vietnamese enterprises need to invest long-term, innovate ways to approach partners, build modern marketing strategies and have serious preparation for environmental standards, recycling rates, and low emissions. Long-term strategy and "green" thinking can be seen as the key to the next phase of EVFTA.
Not only that, it is necessary to innovate marketing methods, build strong brands in Germany; take advantage of the trade promotion system, connect from the Trade Office and industry associations. Along with that, prepare scenarios to respond to market fluctuations, take advantage of EVFTA before other competitors sign FTAs with the EU.
Vietnam - Germany trade relations are on the rise thanks to EVFTA, opening up great opportunities for Vietnamese businesses. But opportunities can only truly turn into advantages if there is a methodical approach strategy, green thinking and determination of businesses.
Germany is not only a leading trade partner, but also a "golden gateway" to help Vietnam conquer the entire EU market. It is time for Vietnamese businesses to consider this a strategic playground, where not only to sell products but also to elevate the national brand.

Source: Vitic/ congthuong.vn