Promoting Vietnam - Japan economic cooperation

Speaking at the opening of the Conference, Mr. Bui Quang Hung - Deputy Director of the Trade Promotion Agency said: Since the establishment of the "Comprehensive Strategic Cooperation Partnership", the relationship between Vietnam and Japan has developed strongly in many fields, especially in economics , trade and investment. Japan is currently the 4th largest trade partner of Vietnam (after the United States, China and South Korea).

Mr. Bui Quang Hung - Deputy Director of the Trade Promotion Agency spoke at the Conference

According to statistics from Vietnam Customs, in 2024, the total import-export turnover between Vietnam and Japan will reach 46.20 billion USD, an increase of 2.77% compared to 2023. Of which, the export of goods from Vietnam to Japan will reach 24.61 billion USD, an increase of 5.55% compared to 2023. The commodity structure of our two countries is complementary, not competitive.

In the first 4 months of 2025, Vietnam's exports to Japan reached 8.5 billion, up 12%; imports reached 7.9 billion USD, up 6.5% over the same period last year.

According to Mr. Bui Quang Hung, the two countries are currently members of three bilateral and multilateral free trade agreements (FTAs), including the Vietnam-Japan Economic Partnership Agreement (VJFTA); the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP) and the Comprehensive and Progressive Agreement for Trans- Pacific Partnership (CPTPP), creating many opportunities and favorable conditions for trade activities between the two countries.

In particular, in 2025, in the context of the global economy facing many challenges, such as geopolitical tensions, trade protectionism trends, especially the US reciprocal tax policy, which is having initial impacts on the shift of FDI capital flows and the structure of the global supply chain. Strengthening the Vietnam - Japan Comprehensive Strategic Partnership is extremely important for the socio-economic development of each country.

The conference attracted many businesses from both countries.

Mr. Bui Quang Hung emphasized that with the desire to promote trade and investment cooperation between the business community and localities of the two countries, the Trade Promotion Agency regularly cooperates with relevant Japanese agencies and organizations to implement trade connection programs.

Ms. Wada Aya, General Director of the Osaka City Economic Strategy Bureau, said that since Osaka City and Vietnam signed the Business Partner City Agreement in Ho Chi Minh City in 1997, the two sides have carried out continuous exchange activities through organizing BPC roundtables, economic cooperation and trade, and seminars. Furthermore, Ho Chi Minh City and Osaka City also signed a Memorandum of Understanding on cooperation in a number of key areas in 2011. This Memorandum of Understanding was re-signed by the two sides during the Ho Chi Minh City delegation's visit to Osaka in May last year. The two sides pledged to actively carry out policy dialogue activities, technology transfer exchanges in the fields of economics, environment, and water management, further strengthening the exchange relationship between the two cities.

Businesses of the two countries trade after the Conference

At the conference, 28 Vietnamese enterprises introduced to Japanese partners many products such as agricultural products, food (including tapioca starch, dried and frozen seafood, tea, coffee, spices, fresh agricultural products, almond cakes, etc.); mechanical and electronic components, construction materials, household products, perfumes, etc. to promote mutually beneficial cooperation opportunities.

Many businesses participated in trading at the Conference

Ms. Quyen Thi Thuy Ha - Head of the Vietnam Trade Office in Osaka said that Japan is an important market for Vietnamese agricultural products. In 2024, the export of processed agricultural products (especially fresh fruits and seafood) to Japan is expected to increase sharply thanks to market opening agreements and gradual improvements in product quality to meet Japan's high quality standards.

Vietnamese and Japanese businesses are cooperating to develop high-tech agriculture in Vietnam, especially in areas such as livestock, aquaculture, and organic agricultural production. Japanese companies are also providing advanced technologies in quality management and agricultural product preservation.

Source: Department of Trade Promotion

Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/thuc-day-hop-tac-kinh-te-viet-nam-nhat-ban.html