A mango garden in Tiền Giang Province. According to Vietrade, Vietnamese companies should be more dynamic in participating in trade fairs and trade promotion programmes to expand exports to Japan. — VNA/VNS PhotoViet Nam News HCM CITY — Vietnamese companies, especially those in the Cửu Long (Mekong) Delta, should participate in trade promotion programmes if they want to expand exports to Japan, according to the Việt Nam Trade Promotion Agency (Vietrade). Speaking at a seminar on promoting exports of farm produce and aquatic and fisheries products to Japan in Cần Thơ city on Friday, Nguyễn Mạnh Hùng, head of Vietrade’s international relations department, said bilateral trade rose sharply last year and again this year to top US$20.93 billion in the first seven months. Việt Nam’s main exports to Japan included garment and textile, vehicles and spare parts, machinery and equipment, fisheries products, wooden … [Read more...] about Seminar discusses measures to boost exports of farm, fisheries products to Japan
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Vietnam records trade deficit with Japan
Vietnam records trade deficit with JapanBy Trung Chanh A farmer in the Mekong Delta province of Tien Giang harvests dragon fruit – PHOTO: TRUNG CHANH CAN THO – Vietnam is currently in a trade deficit with Japan, despite strong bilateral trade in recent years, announced an official from the Vietnam Trade Promotion Agency (Vietrade) at a seminar in the Mekong Delta province of Can Tho on September 14. Vietrade partnered with the ASEAN Promotion Centre on Trade, Investment and Tourism and the Can Tho Promotion Agency to organize the seminar aimed at promoting agricultural and seafood products to Japan. Two-way trade between the two countries had risen to more than US$33.8 billion in 2017 from the 2011 figure of US$21.18 billion. The number increased by 12% to US$20.93 billion in the first seven months of this year, according to Nguyen Manh Hung, head of the International Relations Department at Vietrade. Hung noted that Vietnam had earlier witnessed a trade surplus … [Read more...] about Vietnam records trade deficit with Japan
Vietnam eyes Japan market potential for its exports
US$500 million trade surplus According to the Ministry of Industry and Trade, Vietnam’s exports to Japan reached US$16.7 billion in 2017, an increase of 14.1 percent compared to the previous year. Meanwhile, imports stood at US$16.2 billion, a year-on-year increase of 7.8 percent. As a result, Vietnam posted a trade surplus with Japan of US$500 million. Vietnam’s key exports to Japan maintained growth in 2017, with garments and textiles up 5.4 percent, vehicles and spare parts up 12.7 percent, machinery and equipment up 9.2 percent, and seafood up 18.2 percent. Exports of mobile phones and spare parts almost doubled (96.1 percent), fruit and vegetables grew 69.4 percent, and steel exports were up 251.7 percent. Vietnam’s imports from Japan were machinery, equipment and spare parts at US$4.2 billion, computers and electronic products with US$3 billion, and steel with US$1.4 billion. According to the Ministry of Industry and Trade, Vietnam controlled imports from Japan … [Read more...] about Vietnam eyes Japan market potential for its exports
Japan reaffirms support for ASEAN’s centrality in region
Tokyo (VNA) – Japan reiterated its support for the central role of the Association of Southeast Asian Nations (ASEAN) in the regional architecture at the 33rd ASEAN-Japan Forum held in Tokyo on June 13. The annual deputy ministerial forum, part of the ASEAN-Japan dialogue relations, aimed to review bilateral cooperation and discuss measures for enhancing their strategic partnership. The ASEAN countries and Japan applauded the outcomes in their strategic partnership and cooperation through the implementation of the 2017 Revised Implementation Plan of the Vision Statement on ASEAN-Japans Friendship and Cooperation. Japan is currently the fourth biggest trade partner and the second largest FDI investor of ASEAN. Japan affirmed that ASEAN is an important partner of the country, and it will continue cooperating with and assisting ASEAN in building its community, enhancing connectivity, and narrowing development gap. In particular, Japan will further cooperate with ASEAN in trade, … [Read more...] about Japan reaffirms support for ASEAN’s centrality in region
Trade with Japan Vietnamese enterprises enjoy double advantage
(VEN) - Vietnamese businesses have not taken full advantage of the many benefits provided by trade agreements with Japan, especially in terms of tariff preferences, according to participants at a recent seminar in Ho Chi Minh City. The seminar, sponsored by the Ministry of Industry and Trade, focused on Japanese market information and related import regulations. The Japan-Vietnam Economic Partnership Agreement (JVEPA) and the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP) were both designed to boost business between the two countries. Under VJEPA, in force since October 1, 2009, Vietnam will abolish 90.64 percent of tariff lines by 2026, and Japan will abolish almost 94.53 percent of its tariff lines within 10 years. Japan has committed to reduce its average tax on industrial products – a major Vietnamese import – to 0.4 percent by 2019. Meanwhile, Vietnam’s textile and garment exports to Japan have benefitted from a zero (0) percent tax … [Read more...] about Trade with Japan Vietnamese enterprises enjoy double advantage