Enhance export capacity to the Japanese market

Overview of the workshop. Photo: Ministry of Industry and Trade

The event aims to celebrate the 50th anniversary of the establishment of Vietnam-Japan diplomatic relations and the 50th anniversary of ASEAN-Japan friendship and cooperation, with the participation of more than 150 delegates from Vietnamese and Japanese enterprises in the fields of agricultural products, processed food, seafood, textiles, footwear, household appliances, and health care products.

At the workshop, Mr. Nakamura Makoto, an expert from the Japan Investment and Trade Exchange Organization MIPRO, introduced regulations and procedures for importing goods into Japan, food hygiene and safety standards, and updated information on new policies in Japanese law.

Vietnam and Japan have been important trade partners for many years. The two countries have complementary import-export structures, not directly competing. Japan has a need to import agricultural, forestry, aquatic products, processed foods, consumer goods, etc., while Vietnam has a great competitive advantage in exporting these products. The fact that the two countries are members of many free trade agreements creates many opportunities to further expand trade cooperation, especially to increase import and export and have the opportunity to participate in the regional and global supply chain.

Businesses from both sides introduce products and export potential. Photo: Ministry of Industry and Trade

Also at the workshop, businesses from both countries had a trade session to connect quality products and sign trade contracts to contribute to the growth of export turnover between the two countries.

Japan is currently Vietnam's leading economic partner. Japan is the largest ODA donor, the second largest labor partner, the third largest investor, the third largest tourism partner, and the fourth largest trade partner of Vietnam.

In the first 5 months of 2023, the import-export turnover of the two countries reached about 17.46 billion USD. Of which, exports reached 9.11 billion USD, imports reached 8.35 billion USD. Textile and garment products reached 1.42 billion USD, up 6.6%; means of transport and spare parts reached 1.12 billion, up 9.2%; wood and wood products reached 677.8 million USD, down 0.2%, footwear of all kinds reached 438.6 million USD, up 10.5%; seafood products reached 580.3 million USD, down 9.2%, vegetables and fruits reached 71.5 million USD, up 5.3%; cashew nuts reached 23.9 million USD, up 15.4%.

Regarding investment, in the first 5 months of the year, 82 countries and territories invested in Vietnam. Japan ranked second with nearly 2.1 billion USD, accounting for nearly 19.1% of total investment capital, nearly 2.2 times higher than the same period.

Source: https://hanoimoi.vn/nang-cao-nang-luc-xuat-khau-vao-thi-truong-nhat-ban-623362.html