Highlighting the bilateral trade and investment ties over the past time, the article wrote that trade and investment between the two nations are supplementary, clearly reflected in the structure of import-export goods. Japan mainly exports machinery, equipment and transport means to Vietnam while importing garments and wood products from the Southeast Asian nation.
At present, in addition to maintaining and consolidating commodities that have affirmed their footholds in the Japanese market, Vietnam is improving their products in terms of quality and design in order to better meet conditions and standards set by Japan, firstly focusing on the fields of processing industry, agro-forestry-fishery, industry, and mechanics.
The enhancement of investment cooperation has brought benefits to both sides. Japanese investment helps Vietnam learn from management experience and access advanced technologies in different areas, effectively contributing to its national industrialisation and modernisation process.
Meanwhile, through trade exchange with Vietnam, Japan will diversify approaching channels and engage more deeply in economic activities at the Association of Southeast Asian Nations (ASEAN), a promising market with 650 million people and gross domestic product (GDP) of about US$2.5 trillion.
In the coming time, with the attention of the governments and the close coordination of both sides’ relevant ministries and agencies, bilateral trade cooperation will continue to thrive. The two economies’ increased connectivity will help deepen the extensive strategic partnership for peace and prosperity in Asia affirmed by their leaders during high-level visits and reflected via specific programmes and activities between the nations’ localities, agencies, organisations and businesses.VNA