Vietnamese and Japanese businesses connect trade

10:58:51 AM | 6/23/2023

A conference on trade connection between Vietnamese and Japanese businesses was held in Tokyo (Japan) on June 21, creating opportunities for businesses to promote cooperation and introduce their prime products.

The conference, with the attendance of more than 100 Vietnamese and Japanese enterprises, is part of a series of economic cooperation activities between Viet Nam and Japan on the occasion of the 50th founding anniversary of the two countries' diplomatic relations.

In his opening remarks, the Trade Counselor of the Vietnamese Embassy in Japan, Ta Duc Minh, emphasized that Viet Nam and Japan have been essential trade partners of each other in recent years.

The two countries have import-export structures that are not directly competitive but complementary. Specifically, Japan needs to import agricultural, forestry, aquatic products, processed foods, consumer goods, and apparel, which are all strengths of Viet Nam.

All products exported from Viet Nam to the Japanese market must meet strict regulations on the origin of raw materials and production processes. This requires close cooperation between the two countries' businesses.

In recent years, along with good political relations, bilateral trade and investment relations have grown steadily, making Japan one of Viet Nam's leading economic partners.

Additionally, Japan is the largest ODA donor, as well as the second labor cooperation partner, the third investor, and the third tourism source market of Viet Nam. More and more Vietnamese goods are present in the Japanese market and are favored by the people here.

The conference is an opportunity for Vietnamese businesses to introduce more key products to the Japanese market based on the Viet Nam - Japan Free Trade Agreement (VJEPA).

Source: Vietnam Business Forum