Vietnam, Japan foster cooperation in industry, trade, energy

The meeting was co-chaired by Vietnamese Minister of Industry and Trade Tran Tuan Anh and Japanese Minister of Economy, Trade and Industry Kajiyama Hiroshi.

The ministers rejoiced at cooperation outcomes between the two sides since the 3rd meeting, especially collaboration within the Association of Southeast Asian Nations (ASEAN), the Regional Comprehensive Economic Partnership (RCEP), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as well as cooperation in energy, automobile and chemical industries and industrial workforce training.

They reiterated the significance of the joint committee in removing difficulties for businesses and promoting cooperation between the two countries, particularly in the context of the COVID-19 pandemic.

They shared the view that Vietnam-Japan cooperation in trade, industry and energy should go with targets set in the ASEAN-Japan Economic Ministers’ Joint Statement on Initiatives on Economic Resilience in Response to the Coronavirus Disease, and the ASEAN-Japan Economic Resilience Action Plan.

Hiroshi lauded the leadership of Vietnam as ASEAN Chair 2020, and committed to further coordination with the country.

The two ministers highlighted diversity, transparency, and sustainability in building a firm supply chain in the industrial sector.

Minister Tran Tuan Anh said the Vietnamese Government pledges to perfect the investment environment in the time ahead to facilitate the operation of foreign investors in general and those from Japan in particular.

He appreciated Japan’s technical assistance in personnel development in the industrial sector over the past years.

The minister expressed his delight at projects in Vietnam included in Japan’s initiative on personnel development in the sphere of auto control software in ASEAN, to be rolled out for the first time this year.

He suggested applying Japan’s KOSEN model in personnel development in training facilities of the Vietnamese Ministry of Industry and Trade in order to improve capacity and create more added values for a number of key industries in Vietnam like chemicals, garment-textile, auto and supporting industries.

Both ministers pledged to make efforts for a free, fair, transparent, stable and foreseeable trade and investment environment in Asia-Pacific.

They reiterated commitments to promoting economic integration in Asia-Pacific, and agreed to support each other and closely coordinate at multilateral economic and trade cooperation frameworks of which the two countries are members.

They also discussed other issues like digital transformation, the fourth Industrial Revolution and the free flow of data with trust.

In the field of energy, they said the Nghi Son oil refinery is significant to both sides, and suggested the Vietnamese and Japanese governments facilitate the implementation of the project.

It is necessary to diversify energy resources, step up oil and gas cooperation and promote energy-related policies to meet the increasing demand for energy, they said.

The two countries will also foster collaboration in addressing global challenges like climate change, while mobilising financial resources, including private investment, for energy infrastructure projects and projects on free and competitive energy market development in Indo-Pacific through multilateral frameworks./.