A conference on trade connection between Vietnamese and Japanese businesses was held in Tokyo, Japan, as part of a broad array of economic exchanges and co-operation activities taking place on the occasion of the 50th anniversary of diplomatic relations between both sides.

As part of his opening speech at the conference, Ta Duc Minh, trade counselor of the Vietnamese Embassy in Japan, emphasised that in recent years both countries represent each other’s important trade partners. The two sides therefore have an import-export structure that is not directly competitive but complementary.

Japan is in need of importing agro-forestry-aquatic products, processed foods, consumer goods, and apparel which are all the strengths of the Vietnamese side.

Furthermore, the two countries are members of many free trade agreements, a factor which creates more opportunities for them to expand trade links, especially to boost exports and participate more deeply in the supply chain of the region and the wider world.

Nakamura Makoto, an economist at the Manufactured Imports and Investment Promotion Organization (MIPRO) under the Japanese Ministry of Economy, Trade and Industry (METI), said all export products from Vietnam to the Japanese market must meet strict regulations relating to the origin of raw materials and production processes.

This therefore requires close co-operation between businesses of the two countries in order to be able to bring Vietnamese products and goods to Japanese consumers, he went on to say.

Within the framework of the conference, Vietnamese firms introduced many sample products, such as garments, ready-made foods, fruits, and consumer goods, to Japanese enterprises to experience directly, thereby seeking further business co-operation opportunities.

Apart from bringing products ensuring high standards of quality and food safety, local businesses also paid close attention to environmentally-friendly products.

Japan currently represents the most important economic partner of the Vietnamese side, the largest ODA donor, the second labour co-operation partner, the third investor, the third tourism partner, and the nation’s fourth largest trading partner.

An increasing number of Vietnamese goods are present within the Japanese market and are favoured by Japanese consumers

Along with promoting the export of strong products, Vietnamese firms tend to understand and meet the needs of Japanese consumers, such as ready-made, time-saving, and hygienic foods.

With regard to handicraft products, Vietnamese businesses aim to provide “semi-finished” products that Japanese people can make use of to design products according to their preferences.

The conference is therefore viewed as an opportunity for both nations’ enterprises to seek and promote business links, especially to bring more strong and key products of Vietnam to penetrate the Japanese market on the basis of capitalising on the Vietnam-Japan Free Trade Agreement (VJEPA).

VOV