Vietnam and Germany are enjoying huge opportunities to effectivelyexploit each other's potential amid moves to speed up the forging ofbilateral ties between the two countries.

Bui Huy Son, Head ofthe Trade Promotion Agency under the Ministry of Industry and Trade,made this observation at a conference in the capital city on September17.

Son also revealed that the Vietnam-European Union (EU) FreeTrade Agreement, which was expected to be signed by year-end, wouldfurther facilitate cooperation between the business communities of bothcountries.

Bilateral trade between Vietnam and Germany hasdeveloped significantly in past years in spite of global and domesticeconomic difficulties, increasing by 18 percent to 7.7 billion USD in2013 and standing at 2.34 billion USD in the first four months of 2014.

Vietnamhas exported a variety of products to Germany, including mobile phonesand components, computers and electronic equipment, and garments andfootwear, as well as coffee, seafood, timber products and handicrafts.Germany has exported to Vietnam transport vehicles, equipment andmachinery, as well as pharmaceutical and chemical products.

Germanyis now Vietnam's largest trade partner in the EU, Son said, adding thatit was also a gateway for Vietnamese companies to penetrate deeply intothe huge and lucrative European market.

Marko Walde, chiefrepresentative of German Industry and Commerce in Vietnam, said that toenter the German market, Vietnamese companies should study German markettrends, take part in German trade fairs to get information oninnovative technologies, improve their market brands and develop newmarketing and distribution channels.

They should also attend business forums and match-making events, Walde added.

Conferenceparticipants were exposed to information and discussions on German taxregulations, certificates of origin and certificates for exports.-VNA