Seminar promotes trade cooperation opportunities between Vietnam and Japan

Tuesday, 2018-10-23 11:14:25
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Doan Thi Thu Thuy, Deputy Director of Vietrade, speaks at the seminar. (Photo: VN+)
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NDO – A seminar on Vietnam-Japan trade exchange and economic cooperation was co-organised by the Vietnam Trade Promotion Agency (Vietrade), under the Ministry of Industry and Trade, and the ASEAN-Japan Centre in Tokyo on October 22.

The event drew the attendance of more than 100 Japanese companies and 25 Vietnamese firms operating in the areas of fine arts and handicraft, mechanics, plastics, household wood items, and souvenirs.

Addressing the seminar, Doan Thi Thu Thuy, Deputy Director of Vietrade, said Vietnamese goods have set a foothold in most markets around the world, stating that Vietnam has been shifting from the exports of raw materials into the commodities of high intellectual content, such as electronics parts and smart phones.

In particular, Vietnam’s agriculture has been in a long period of stable growth, at an average of 4.4% annually over the past decade, with the country’s fruit export revenues having surpassed rice and crude oil, she added.

Addressing Vietnam’s advantages, Thuy said that Vietnam possesses a young labour force, gradually trained with high technical qualifications, in addition to a stable political environment and a potential market concerning population, businesses, natural resources, geographic location, integration, growth rate, and an increasingly improved legal system.

According to Ta Duc Minh, trade counselor at the Vietnamese Embassy in Japan, the relations between the two countries have been increasingly growing across all spheres over the past 45 years, particularly their economic ties.

Japan is the fourth largest trading partner of Vietnam and the largest foreign investor in the country, he stated, adding that both countries are joining together in many economic cooperation frameworks, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

At the workshop, Secretary General of the ASEAN-Japan Centre, Masataka Fujita, informed participants of the major trade methods in cooperating with Japanese enterprises, while affirming that the event would help foster win-win cooperation between the two countries’ companies, contributing to further accelerating the Vietnam-Japan trade relations.