President Elmar Dutt said the GBA together with German Industry and Commerce Vietnam (GIC/AHK) has actively contributed to stimulating Vietnam’s economic growth by strengthening bilateral trade and investment links over the past five years. Bilateral trade grows at an annual 25–30 per cent, reaching US$6 billion last year.

Dutt believed that high productivity and better product quality and design will help Vietnam gain a leg up on international competition. German investors are interested in long term business within the framework of cooperation.

A strategic partnership signed in 2011 between the two countries is expected to achieve US$10 billion in turnover by late 2015 on the basis of current negotiations for an EU-Vietnam Free Trade Agreement.

The GBA is involved in the joint German-Vietnam Mittelstand (Middle Class) initiative. “Germany’s Mittelstand” includes 99 percent of German companies with annual revenues averaging EUR2,000 billion.

Germany’s three million small and medium-sized (SMEs) high-tech enterprises are ready to cooperate with Vietnamese counterparts.

Germany has its 100-year history of vocational training apprenticeship at German companies operating in Vietnam and is keen to recruit Vietnamese labourers.

All trainees are given not only allowances but also opportunities to seek long-term employment in German companies or get higher professional qualifications. Former German Prime Minister Gerhard Schroeder was known to have advanced his career through the similar training system.

As the OECD’s third largest economy, Germany has taken the initiative to adopt strict regulations on environment protection, setting a typical example of environmentally friendly and sustainable growth.

Vietnam wants to adjust its growth model in line with similar precepts. Germany and “Germany’s Mittelstand” can become Vietnam’s major European partner, delivering benefits to both sides.

Germany is very interested in the fields of science and technology, research, education, and energy saving initiatives. The GBA wants the Vietnamese Government to facilitate technology transfers by minimizing import tariffs and encouraging long-term investment cooperation.