The Trans-Pacific Partnership (TPP) agreement is expected to help Viet Nam and Japan move forward with win-win economic cooperation, specifically in the fields of support industry and agriculture, said Deputy Prime Minister Hoang Trung Hai.

He affirmed that the Vietnamese Government pledges to work closely with the Japanese side to improve business environment in order to make the country an attractive market for businesses in the future.

According to a representative from the Japan External Trade Organisation (JETRO), the rate of using locally-produced components in Viet Nam is now about 33%, compared to 55% and 43% in Thailand and Indonesia, respectively.

Deputy Prime Minister Hoang Trung Hai speaks at the event. (Source: VNA)

JETRO will implement business connectivity between the 2 countries and introduce the latest agricultural technologies of Japan to Vietnamese partners, he added.

The organisation revealed that among 521 Japanese SMEs wishing to invest in emerging markets, up to 130 companies want to pour cash into Viet Nam.

Japan is one of the biggest trade partners of Viet Nam with over 37.7 billion USD of registered investment capital in 2,661 projects operated by 1,500 businesses. Two-way trade hit 27.6 billion USD last year and 19 billion USD in the first eight months of this year.

(Source: VNA)