Japan-Vietnam bolster co-operation

by P.V15 October 2015 Last updated at 09:18 AM

VTV.vn - The Japan-Vietnam economic conference took place on Wednesday morning in Hanoi.

The conference discussed measures to bolster co-operation following the success of the Trans-Pacific Partnership negotiations, in which Japan and Vietnam are the two potential member countries. 

If the TPP is ratified, support industries and high-tech agriculture are likely to be the two key areas of co-operation between Japan and Vietnam.

"This is an opportunity to promote co-operation, in order to form industrial and agricultural chains between Japan and Vietnam. We’ll try to meet the demands of the global market", said Vu Tien Loc, Chairman, Vietnam Chamber of Commerce and Industry.

Nearly 1,500 Japanese firms have operated in Vietnam since 1990. However, these businesses have yet to fully connect with Vietnamese companies.  

"In the context of the TPP, Vietnam becomes increasingly important as a centre of economic development in the global supply chain. We’re planning on more than 20 joint agricultural projects in the northern and central Vietnam. We’ll connect selling and buying support firms from each country", said Yuri Sato, Executive Vice President, Japan External Trade Organisation.

Despite government efforts in signing various negotiations, only 30% of firms in Japan have made the most of recent free trade agreements. The same can be said for Vietnamese firms.

"The responsibility of government is to create favourable conditions for enterprises so that they can take advantage of the TPP. Besides the 0% tariff duties, infrastructure and other tariff barriers need to be solved", said H.E. Fukada Hiroshi, Japan Ambassador, Vietnam.

"I think the most important factor here are the investors. Government has shared a lot of information, especially TPP related information, as well as investment opportunities", said Nguyen Dinh Xung, Chairman, Thanh Hoa Province People’s Committee.

Speaking at the conference, Deputy Prime Minister Hoàng Trung Hải said that the government would continue to collaborate with Japanese firms to improve the business environment, and attract more Japanese investors to Vietnam.

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