ID :
38142
Tue, 12/30/2008 - 22:34
Auther :
Shortlink :
http://m.oananews.org//node/38142
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Japanese partnership deal promotes bilateral trade
Hanoi (VNA)- Chief negotiator Phan The Rue of Vietnam has expressed strong belief in the Vietnam-Japan Economic Partner Agreement (VJEPA) to boost bilateral trade and investments.
Rue said the VJEPA meets the regional motto "Strategic Partnership for Peace and
Prosperity in Asia ".
The former Deputy Minister of Trade added that both countries agreed to ratify the
agreement in order to deploy it at the beginning of 2009.
The VJEPA was signed in Japan on December 25, 2008 after nine rounds of
negotiations.
Japan has agreed for the first time to work closely with Vietnam towards
early recognition of the country's full market economy and establishment of an
equal trade relationship between the two countries.
In the first stage of the agreement, both countries will realise a tariff
reduction towards a free trade area, allowing over 94.5 percent of Vietnam 's
export revenues and over 87.6 percent of Japan 's export revenues to be exempt
from import tariffs.
Aquatic products, farm produce, apparel, steel, chemicals and electronic
appliances will benefit the most from the commitment to trade liberalisation.
Japan also agreed to extend soft loans from its official development assistance
(ODA) to train up to 300 Vietnamese nurses in Japan .
In the first year of implementing the agreement, the two countries will resume
negotiations on migration in an effort to broaden opportunities for Vietnamese
nurses and workers of other trades.
Rue emphasised other opportunities such as more access to financial sources,
technology, goods and production materials brought in by the agreement to
entrepreneurs and consumers from the two countries.
He added that the VJEPA will make a positive impact on restructuring the two
economies in relation to other regional and global economies.
Japanese Ambassador Mitsuo Sakaba reaffirmed that Vietnam is an important trade
partner of Japan . He also said he strongly believed that the deployment of the
VJEPA would pave the way for the two countries to further strengthen relations in
trade and investment in the future.
Vietnam and Japan have recorded major progress in trade and investment
relations after 35 years of establishing bilateral diplomatic relations.
Two-way trade revenues trebled the 2000 figure to over 12 billion USD in 2007 and
were expected to reach 16 billion USD in 2008, achieving the 2010 target two years
ahead of schedule.
Over the past two decades since Vietnam announced the Law on Foreign Investment,
Japan has invested in 1,046 valid projects with a combined capital of over 17
billion USD, ranking third of 84 foreign investors in Vietnam.--Enditem
Rue said the VJEPA meets the regional motto "Strategic Partnership for Peace and
Prosperity in Asia ".
The former Deputy Minister of Trade added that both countries agreed to ratify the
agreement in order to deploy it at the beginning of 2009.
The VJEPA was signed in Japan on December 25, 2008 after nine rounds of
negotiations.
Japan has agreed for the first time to work closely with Vietnam towards
early recognition of the country's full market economy and establishment of an
equal trade relationship between the two countries.
In the first stage of the agreement, both countries will realise a tariff
reduction towards a free trade area, allowing over 94.5 percent of Vietnam 's
export revenues and over 87.6 percent of Japan 's export revenues to be exempt
from import tariffs.
Aquatic products, farm produce, apparel, steel, chemicals and electronic
appliances will benefit the most from the commitment to trade liberalisation.
Japan also agreed to extend soft loans from its official development assistance
(ODA) to train up to 300 Vietnamese nurses in Japan .
In the first year of implementing the agreement, the two countries will resume
negotiations on migration in an effort to broaden opportunities for Vietnamese
nurses and workers of other trades.
Rue emphasised other opportunities such as more access to financial sources,
technology, goods and production materials brought in by the agreement to
entrepreneurs and consumers from the two countries.
He added that the VJEPA will make a positive impact on restructuring the two
economies in relation to other regional and global economies.
Japanese Ambassador Mitsuo Sakaba reaffirmed that Vietnam is an important trade
partner of Japan . He also said he strongly believed that the deployment of the
VJEPA would pave the way for the two countries to further strengthen relations in
trade and investment in the future.
Vietnam and Japan have recorded major progress in trade and investment
relations after 35 years of establishing bilateral diplomatic relations.
Two-way trade revenues trebled the 2000 figure to over 12 billion USD in 2007 and
were expected to reach 16 billion USD in 2008, achieving the 2010 target two years
ahead of schedule.
Over the past two decades since Vietnam announced the Law on Foreign Investment,
Japan has invested in 1,046 valid projects with a combined capital of over 17
billion USD, ranking third of 84 foreign investors in Vietnam.--Enditem
