Vietnam, Japan seek to expand bilateral trade ties

Update: 03-07-2020 | 08:32:19

Minister of Industry and Trade Tran Tuan Anh and Japanese Minister of State for Economic and Fiscal Policy Nishimura Yasutoshi has had a phone discussion on ways to facilitate two-way trade as well as the significance of border trade and the CPTPP to post-epidemic economic recovery in the region and the world.

Minister of Industry and Trade Tran Tuan Anh

The two ministers shared concern about the unilateral protectionism and underlined the importance of promoting the role of multi-border trade in economic recovery and development after the COVID-19 pandemic.

They affirmed the significance of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the economic development of the world in general and CPTPP members in particular.

In the recent context, the deal will help expand the regional and global supply chains, thus boosting the sustainable development of the economy of member countries, while promoting the application of e-commerce and digital economy in production for rapid post-pandemic recovery, they agreed.

They also concurred to coordinate closely together to make sure the third CPTPP Ministers’ Meeting will be organised online successfully on August 5.

This is expected to contribute to promoting the bilateral cooperation between Vietnam and Japan, while spreading a strong message on the role of the CPTPP to post-pandemic economic recovery and development, and affirming the support for multilateral trade system in line with the regional and global principles and laws.

Concluding the discussion, the two ministers vowed to continue working closely together in the future to expand bilateral coordination, not only within the CPTPP framework but also in other frameworks that both sides are members such as the Regional Comprehensive Economic Partnership (RCEP) and the ASEAN-Japan Free Trade Agreement.

VNA

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Vietnam, Japan seek to expand bilateral trade ties

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