Vietnam, Japan stimulate trade ties hinh anh 1Source: AFP

Hanoi (VNA) – The “Meet Japan” seminar held in Hanoi on December 11 provided a communications channel for future trade partnerships between Vietnam and Japan.

The function brought together over 120 representatives from Vietnam’s Foreign Ministry, provincial authorities, and enterprises as well as from Japan’s business community.

Nguyen Hoang Long, standing head of the Foreign Ministry’s Bureau of Consular Affairs, said the two economies have bonded together based on their close geographical distance and fairly similar cultures.

According to Long, Japan is the biggest provider of official development assistance for Vietnam over the past 20 years. The former is also the latter’s number two investor and number four trade partner.

Currently, more than 1,400 Japanese firms are operating in Vietnam. In 2015, close to 100 Japanese officials and businesses visited Vietnamese localities to promote investment.

Katsuro Nagai from the Japan Embassy in Vietnam stated that the Southeast Asian nation is a favourable destination of Japanese enterprises. He hoped the seminar will boost bilateral ties and help draw more Japanese investments into Vietnam.

Chikahiro Masuda from the Japan International Cooperation Agency in Vietnam underscored the six major sectors for joint collaboration – electronics, agricultural machinery, agro-fisheries processing, shipbuilding, environment, auto and auto spare parts production.

Japan is helping Vietnam design action plans for these spheres, he said.

He also pointed to the fact that the Japanese side has supported the Hanoi University of Industry in training human resources in the past decade.

Naoki Takeuchi from the Japan External Trade Organisation in Vietnam said a large number of Japanese companies want to establish production facilities in Vietnam.

He proposed the Vietnamese Government work to further improve the investment climate.-VNA