Vietnam, Japan foster trade cooperation

Tan welcomed Governor Kishimoto’s visit to Vietnam on the occasion of the 50th anniversary of bilateral diplomatic ties this year.

He hailed the authorities of Wakayama prefecture for working closely with the MoIT to effectively implement the Memorandum of Understanding on trade and industry cooperation signed in 2018 and renewed in 2021.

Since 2019, both the MoIT and Wakayama prefecture have maintained the annual exchange of delegations and trade promotion missions, and business networkings both in-person and online formats, contributing to fostering trade relations and industrial cooperation between their business communities.

To further strengthen the cooperative relationship between the MoIT, the Vietnamese business community and Wakayama authorities and businesses, Tan suggested focusing on collaborative activities in various areas, such as promoting trade, facilitating investment, technological transfer and green transition in sectors of strength such as apparel, aquaculture processing and environment treatment, training and supply of Vietnamese workers to Wakayama firms.

Highlighting the success in opening the new direct international air route between Wakayama prefecture and Hanoi, Da Nang, Governor Kishimoto wished to work closely with the MoIT to further step up collaboration in workforce training to meet the needs of firms in Wakayama.

Additionally, there is a need to strengthen bilateral trade, including helping enterprises and products from Wakayama to access the Vietnamese market, which is increasingly favouring high-quality products originating from Japan, he said.

Speaking highly of the proposed initiatives, Tan invited the authorities of Wakayama prefecture to send business delegations to Vietnam International Sourcing in September and the Vietnam Foodexpo in November, both scheduled to be held in Ho Chi Minh City.

Kishimoto promised to foster comprehensive cooperation between Wakayama and MoIT, contributing to further tightening ties between Vietnam and Japan.