At the conference, the two sides discussed trade cooperation in such fields as parts for solar LED lights combined with backup batteries, plastic and paper food containers, kitchenware, timber products, processed agricultural products, and frozen seafood.
According to the Ho Chi Minh City Investment and Trade Promotion Centre, as an economic engine of Vietnam, Ho Chi Minh City will continue stepping up administrative reform to create a favourable business environment for investors doing business in the city.
The city is also working on policies to support domestic and foreign businesses to develop new products and services while increasing trade promotion activities to connect manufacturers with distributors so as to prevent supply chain disruptions in the post-pandemic period.
According to statistics, Japan is Vietnam’s fourth largest trading partner, with two-way trade of 42.7 billion USD in 2021, up 7.8% from a year earlier, despite the impacts of COVID-19.
In the first three quarters of 2022, the trade value between the two countries rose 15% over the same period last year, reaching an estimated 35.69 billion USD, with Vietnam having exported 17.84 billion worth of goods to Japan, up 21.6% year on year.
Vietnam’s primary exports to Japan include garments, machinery and equipment, transport vehicles, seafood, computers, electronics, smartphones, footwear, and plastic products.