Business

Vietnam, Japan push forwards trade cooperation

Business operation will be facilitated in Vietnam and Japan through an extended economic cooperation framework agreement between Vietnam’s Ministry of Industry and Trade and the Kansai Bureau of Economy, Trade and Industry, as determined on May 19.
Business operation will be facilitated in Vietnam and Japan through anextended economic cooperation framework agreement between Vietnam’sMinistry of Industry and Trade and the Kansai Bureau of Economy, Tradeand Industry, as determined on May 19.

After the agreement wassigned in late 2012 in Japan, the two sides have seen numerousachievements, including successful trade collaboration between the twocountries’ business communities, development of the support industry inVietnam and cooperation in environment and energy conservation.

Theupdated agreement will make great contributions to bilateral traderelations towards enhancing multifaceted cooperation between the twosides.

In the first eight months of 2014, Vietnam saw a tradesurplus of nearly 1.86 billion USD from exports to Japan. The country’simports from Japan hit 7.88 billion USD with the majority in machineryequipment, computers, electronics, steel products and plastic.

Aftersigning the Vietnam-Japan Economic Partnership Agreement (VJEPA) in2010, a number of Vietnamese export businesses have effectively takenadvantage of preferential tariffs to boost exports to the Japanesemarket.-VNA
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