Japan, Vietnam agree to bolster cooperation to improve supply chains

Japanese minister of economy, trade and industry Yasutoshi Nishimura and his Vietnamese counterpart Nguyen Hong Dien co-chaired the meeting.

They also agreed to enhance the utilisation and effective implementation of free trade agreements (FTAs) and coordinate and support each other in multilateral frameworks.

Japan agreed with Vietnam’s proposal on the former’s continued support for the latter in training industrial human resources and improving industrial competitiveness, and the early signing of a memorandum of understanding on cooperation in energy transformation to implement projects to support Vietnam in energy transition with funding from the Asia Energy Transition Fund.

Japan will also support training and share experience related to liquefied natural gas (LNG) with Vietnam, according to a news agency.

A joint committee mechanism was established in July 2015 to remove business difficulties and ensure stable and continued growth of trade and investment.

Source: Fibre2Fashion News Desk