Seminar aims to help bolster bilateral trade with Japan

Seminar aims to help bolster bilateral trade with Japan

The Viet Nam Chamber of Commerce and Industry and the Japanese-ASEAN centre hosted a seminar in Tokyo on Tuesday to promote Vietnamese-Japanese trade.

Addressing the event, Nguyen Trung Dung, commercial counsellor of the Vietnamese Embassy in Japan, said Japan was Viet Nam's third largest trading partner and the second largest importer of Vietnamese goods.

In the first half of this year, two-way trade hit over US$12 billion, a year-on-year rise of 28 per cent, of which Viet Nam 's exports to Japan reached about $7 billion, up 45 per cent on the same period of last year.

Notably, Japanese enterprises working in Viet Nam contributed over 50 per cent of Viet Nam's total exports to Japan.

Masaaki Okano, a representative from the Asia New Power company, said Japanese enterprises should provide more specific requirements for their Vietnamese counterparts, who also needed to study the Japanese market carefully, especially quality requirements and laws, in order to successfully penetrate the market.

Deputy director of the Binh Thuan provincial Department of Industry and Trade Ngo Minh Hung said the locality was speeding up administrative reforms and incentives to lure more domestic and foreign investors.

Huynh Cong Trung, deputy director of the Sai Gon Trading Group (SATRA), said the group had established a representative office in Yokohama city to share information and promote economic, trade and investment ties with Japanese localities and businesses.

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