Forum connects Vietnamese and Japanese agricultural businesses

Thursday, 2019-09-19 17:27:29
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Overview of the forum (Photo: VNA)
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NDO – A forum connecting Vietnamese and Japanese agricultural businesses was held in Hanoi on September 19 by the Vietnam’s Ministry of Agriculture and Rural Development (MARD) and the Japanese Embassy in Japan.

Addressing the event, MARD Deputy Minister Tran Thanh Nam emphasised that the forum aims to update businesses from associations, industries and localities of the two countries on regulations relating to import and export management of agriculture, forestry and fishery products from Vietnam and Japan.

It also provided an opportunity for the two sides to share their experiences as well as work out measures to remove existing obstacles, thus enhancing bilateral trade promotion and agricultural investment. At the same time, the forum is designed as a venue for businesses of the two countries to seek trade deals and investment opportunities.

Both Vietnam and Japan joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into effect in January this year. It creates favourable conditions for the two sides to increase two-way trade, boost technology transfer, promote cooperation in their potential fields, and pave the way for further cooperation in vocational training for agricultural workers.

Japan was the largest investor in Vietnam in 2018 with a registered capital of around US$9.5 billion. Many Japanese businesses have shown their increasing interest in agriculture, particularly high-tech agriculture and clean agriculture.

In 2018, the total import-export turnover between Vietnam and Japan was reported at US$37.9 billion, accounting for 7.9% of Vietnam's total trade turnover with all countries in the world.

In the first eight months of 2019, the two-way trade hit US$ 25.7 billion, up 4.9% over the same period last year. Of which, Vietnam’s main agro-forestry-aquaculture exports to Japan was estimated at US$ 1.9 billion.

In the same reviewed period, Vietnam imported from Japan a number of items such as vegetables and fruits, dairy products, seafood, wood, with a total value of over US$350 million.