Last updated: Tuesday, May 21, 2013
Vietnam, Japan Boost Business CooperationPosted: Friday, February 03, 2012
VCCI President Vu Tien Loc greets Japanese Ambassador Yasuaki Taniza
Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), recently hosted a meeting with Mr Yasuaki Taniza, Japanese Ambassador to Vietnam.
At the meeting, Mr Yasuaki Taniza said the Nippon Keidanren, or the Japan Business Federation, will pay a working visit to Hanoi in early March. This delegation, led by Nippon Keidanren President, will consist of 40 Japanese businesses.
Mr Loc said VCCI appreciated the visiting delegation and would host a welcome meeting with Nippon Keidanren President and Japanese enterprises to further promote trade, investment and tourism relations between the two countries.
He added that Phu Tho province was now calling for investment and Japanese companies could contact and seek Vietnamese partners to do business in this northern province. On this occasion, he sent an invitation to Japanese enterprises to join a field trip survey in Phu Tho province.
According to VCCI, Japan is always Vietnam’s largest export market and its trade with the East Asian partner accounts for 17 percent - 20 percent of its total export turnover. However, the percentage of Vietnam’s value in relation to Japan’s imports is very small.
Vietnam’s major exports to Japan include crude oil, coffee, tea, apparel, footwear, seafood, foodstuff, handicraft, ceramics and furniture. Crude oil, seafood and apparel make up 70 percent - 91 percent of Vietnam’s total exports to this market.
VCCI has boosted cooperation with Japanese economic organizations such as JETRO, Nippon Keidanren, JCCI, local chambers of commerce, and Keizai Doyukai.
In 2007, VCCI, at the approval of the Vietnamese Government, set up the Vietnam - Japan Business Forum to create a channel of exchange for the two countries’ business communities, aiming to boost trade, investment and tourism ties. The Japan Business Association in Vietnam is the partner of the forum which is the official information channel for Vietnamese and Japanese enterprises to contribute opinions to the Government.