Port of Hamburg seeks closer trade relations with Vietnam
A record 106,000 standard containers (TEU), were moved between Hamburg and Vietnam in 2019 - an increase of 15 per cent over 2018, a press release said Friday (July 31, 2020). The growth was due among others to direct connections now offered by carriers on this route. Trade between the Port of Hamburg and Vietnam is likely to increase further after the EU-Vietnam Free Trade Agreement took effect on August 1, 2020. Customs barriers are to be dismantled as part of the agreement.
Services between Hamburg and Vietnam
Five scheduled services connect the Port of Hamburg with ports in both north and south Vietnam. Three multi-purpose services and two container services are operated. The former are particularly suitable for project cargo and conventional general cargo. Transit times between Hamburg and Vietnam come to 28 and 35 days depending on the port, direction of traffic and rotation.
Key imports and exports
Goods imported from Vietnam to Hamburg consist mainly of machinery and equipment, including electronic products, household appliances, chemical products, metals and wood products. Goods leaving the Port of Hamburg for Vietnam consist of chemical products, paper and cardboard as well as food and beverages. Vietnam plans to invest USD 3.8 billion in the country's port infrastructure to manage the resulting flow of goods. The EU-Vietnam Free Trade Agreement foresees the reduction of tariffs to 99 per cent by 2030.