Vietnam, Japan Discuss Bilateral Economic Partnership Agreement

The Joint Study Group between Vietnam and Japan opened the first meeting to discuss the bilateral Economic Partnership Agreement in Hanoi on Feb 16, with the participation of state officials and representatives from relevant agencies and business communities from the two countries.

The meeting lasts three days. Earlier, Prime Minister Phan Van Khai and his counterpart Junichiro Koizumi reached a decision to further promote discussion on the Vietnam-Japan Economic Partnership Agreement.

 

The Japanese side led by Hiroshi Ohe, the special assistant to the Japanese foreign minister, and Vietnam headed by Vu Van Trung, the head of the Asia-Pacific Department of the Ministry of Foreign Affairs, exchanged views on business environment improvement and trade issues relating to the possible agreement.

 

As at the end of last year, Japan had 590 projects in Vietnam with total registered capital of US$6.19 billion and combined implemented capital of US$4.51 billion.

Vietnam’s export to Japan valued at US$4.41 billion in 2005, out of the total two-year trade turnover of US$8.51 billion. The two sides hope the two-way trade would reach US$10 billion in 2007.

 

Vietnam and Japan expect to reach the free trade agreement in the near future.