Vietnam, Japan promote trade, economic cooperation

Nearly 100 Vietnamese and Japanese enterprises in agriculture, food, garment and support industry attended a Vietnam-Japan trade and economic cooperation conference in Tokyo on September 20.
Vietnamese and Japanese enterprises ink cooperation deal. (Photo: VNA)
Vietnamese and Japanese enterprises ink cooperation deal. (Photo: VNA)

The event was held by the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, Trade Office of the Vietnamese Embassy in Japan and the ASEAN-Japan Centre (AJC). It created opportunities for enterprises from the two countries to find trade partners, enhancing bilateral economic relations.

AJC Secretary General Masataka Fujita lauded Vietnam’s stable trade growth in recent years, with export revenue standing at 177.6 billion USD in 2016, a year-on-year increase of 9 percent, adding that the Japanese market was a major part of the trade expansion.

Vietnamese enterprises need to enhance their competitiveness to boost exports to Japan, he highlighted.

Trade counselor at the Vietnamese Embassy Ta Minh Duc noted the advantages of investing in Vietnam.

Along with the sound bilateral relations between the two countries, Vietnam has a stable political situation and an abundance of young labourers. Ties with Vietnam will also help Japanese businesses break into an ASEAN market with a population of more than 600 million, Duc said.

Businesses from both sides can enjoy tariffs of nearly 0 percent as the two countries are involved in several cooperation frameworks, he stated, stressing that his office stands ready to help businesses promote trade relations and bring benefits to both countries.

Meanwhile, Deputy Head of the Vietnam Trade Promotion Agency Bui Thi Thanh An called on Japanese enterprises to invest in some projects which are significant to Vietnam’s economy.