Bright spots in Vietnam Denmark trade cooperation

In the framework of the official visit to Vietnam, on January 21 afternoon, Danish Minister of Trade and Development Cooperation, Mr. Mogens Jensen had a meeting with journalists in Ho Chi Minh City about Vietnam Denmark trade cooperation development.

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At the press conference, Mr. Mogens Jensen said that Vietnam Denmark trade cooperation has been developed since 2009 with the growth rate of about 75%. The Danish investment in Vietnam increases three times, while the Vietnam investment in Denmark raises double year on year. Currently, there are more than 130 Danish companies and enterprises in Vietnam. The companies mainly focus on areas such as furniture and textiles, energy and environment, transport and logistics (water way), foodstuff and food safety... Mogens Jensen was accompanied by a delegation of 40 Danish businessmen in areas of food, climate, and energy. Thereby, the two sides signed three cooperation memorandum with 2 Minutes of cooperation on food and one of oil and gas cooperation.

In terms of economic cooperation between two countries, Mogens Jensen said that Denmark desired to raise export turnover of both Vietnam and Denmark. "For instance, in food sector, the Danish companies can provide producing equipment of good-quality food, including other sectors such as pharmaceuticals, textiles, transport...” the Minister Mogens Jensen stressed. On the other hand, Denmark hopes to import products which Vietnam has advantages, especially food and textiles. According to Minister Mogens Jensen, in the future, main fields which will be supported by Denmark include green development, climate change, development of private sectors, water and sanitation, culture and public management. Since 1994, the Danish has been supporting the development for Vietnam with an amount of US$ 1.3 billion. With this support, Denmark has contributed to the strong development of Vietnam economy.

In the period of 2014 - 2015, Denmark will disburse US$ 90 million for the grant assistance development for Vietnam. Reportedly, so far, Denmark is the largest non-refundable aider in the European Community to Vietnam. Specifically, Denmark accounts for 25% of total grant capital support of the entire EU. Denmark considers Vietnam a very important partner, as Denmark has put Vietnam on strategy for market development. In which it aims to double export to Vietnam, Mr. Mogens Jensen, Minister for Trade and Development Cooperation of Denmark said.

At the conference of Vietnam - Denmark enterprises, Mr. Mogens Jensen said his visit to Vietnam this time is to strengthen partner relationships and positive Vietnam - Denmark trade relation. The focus of the visit is high-level talks and meetings to promote trade cooperation. "Policy on foreign affairs of Denmark always gives priority to Vietnam both politically and economically. And I look forward to further promote the partnership and cooperation between the two countries", he added. On the sidelines of the conference, discussing with reporters, Mr. Mogens Jensen said that Denmark recognized Vietnam as a very important partner. Evaluating Vietnam economy in the future, Mogens Jensen said, Vietnam is a country with great development potential. During the time, when the global economy has many difficulties, economy in Vietnam has been remaining with an outstanding growth rate.

Denmark is also providing non-refundable ODA for Vietnam at the highest level, to help Vietnam improve infrastructure, contribute to the poverty reduction and climate change... Now, according to statistics, two-way trade between Vietnam and Denmark has developed positively since 2009, with growth rates of up to 75%. Investment of Vietnam in Denmark has nearly doubled since the same time and investment of Denmark in Vietnam has nearly tripled. Exports of Denmark in Vietnam increased by 13.9% in the first nine months of 2014 compared to the same period of 2013. The value of bilateral trade in goods and services is expected to exceed the figure of 2013.