Focal points of information about the German market European - American Market Department, Ministry of Industry and Trade Address: No. 54 Hai Ba Trung, Hanoi, Vietnam

Businesses can look up information on the German market by themselves through the following free useful search tools:

To take advantage of the EVFTA to increase access for German goods to Vietnamese market, German exporters and Vietnamese importers need to pay attention to the following issues notes:

Opportunity from tariff reduction and market opening: This is probably the biggest opportunity from the EVFTA for German exports to Vietnam because currently Vietnam is applying relatively high MFN tariff rates on many of Germany's main export products.

Vietnam is a big market with increasing the demand for high quality goods Vietnam is one of the largest consumer markets in Asia: The population of Vietnam is currently ranked 3rd in the Southeast Asia and 15th in the world (World Bank, 2021);

As Vietnam is one of the most open economies in the ASEAN region and in the world, its market currently has the presence of many competitors from many different countries and regions.

According to ITC TradeMap, in 2020, Germany's exports to Vietnam reached USSD 3.4 billion and accounted for only 0.25% of Germany's total exports to the world.

Germany is known as one of the world's leading developed economies with extremely vibrant trade activities. According to the World Bank, in 2020, Germany's trade accounted for 81.1% of this country's GDP, of which exports of goods and services accounted for 43.4% of GDP.

Procedures for importing goods into Vietnam include the following steps: Step 1: Preparation for import Determining the import category of goods

The income of Vietnamese people has rapidly increased in recent years but is still at an average level compared to the region and low compared to the world.