After nearly 50 years, the cooperative relationship between the two countries has seen strong and substantive progresses in all fields, contributing to peace and development in the region and the world.
The bilateral relationship is currently at its best with high political trust since the establishment of diplomatic ties. In order to promote more substantive cooperation, Vietnam and Japan upgraded their relationship to an extensive strategic partnership for peace and prosperity in Asia in 2014.
The two countries’ high-level leaders have maintained regular visits and meetings at international and regional forums. Bilateral dialogue mechanisms in fields such as diplomacy, security, trade and energy have produced positive effects, helping to promote cooperation between the two countries.
Minister of Foreign Affairs Bui Thanh Son has affirmed that Vietnam always considers Japan as a strategic partner of utmost importance.
Japan is Vietnam’s important trading partner and is the first G7 country to recognise Vietnam’s market economy status. Japan is Vietnam’s fourth largest trading partner and second largest foreign investor. In the first nine months of 2021, Vietnam’s trade with Japan reached 31 billion USD. As of September 20, 2021, Japan had 4,748 active projects in Vietnam with total capital of 63.85 billion USD. Vietnam is an attractive investment destination for Japanese enterprises in their efforts to diversify the supply chains.
Official development assistance (ODA) is a bright spot in the bilateral relationship. Japan is the largest ODA donor for Vietnam, making important contributions to Vietnam’s socio-economic development. In recent years, Japan has provided ODA for climate change adaptation projects in Vietnam. Japan is also one of the largest ODA donors for Vietnam’s education sector.
The Vietnamese community in Japan has reached nearly 450,000, who are making important contributions to Japan’s economic development and helping to enhance understanding between the two countries’ people. Bilateral cooperation in labour, agriculture and consular affairs has also seen rapid and substantive progresses.
The two countries have cooperated effectively at multilateral forums such as the United Nations and ASEAN. As an active member of ASEAN, Vietnam has effectively assumed the role of coordinating ASEAN-Japan relations during the 2018-2021 period.
Affirming the spirit of the extensive strategic partnership amid the COVID-19 pandemic, the two countries have maintained exchanges at all levels in a flexible manner. Japan actively supports Vietnam’s fight against coronavirus by donating vaccines and providing medical equipment and technical assistance. Vietnam also donated nearly 1.2 million medical masks and 20,000 cloth masks to Japan.
Looking towards the 50th anniversary of diplomatic ties in 2023, Vietnam and Japan will continue to work closely together in order to further deepen the extensive strategic partnership, for the sake of the two countries’ peoples and for peace, cooperation and development in the region and the world at large.
