Vietnam, Japan to work closely for effective implementation of CPTPP | Business | Vietnam+ – http://en.vietnamplus.vn/

Credit: Original article can be found here

Vietnam, Japan to work closely for effective implementation of CPTPP hinh anh 1At the phone talks between Minister of Industry and Trade Nguyen Hong Dien and Japanese economic revitalisation minister Yasutoshi Nishimura (Photo: VNA)

Hanoi (VNA) – Vietnam and Japan have agreed to boost their close
cooperation with a view to effectively implementing the Comprehensive and
Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The consensus was reached during phone talks between Minister of Industry and
Trade Nguyen Hong Dien and Japanese economic revitalisation minister Yasutoshi
Nishimura on May 26.

Dien suggested Nishimura encourage and create favourable conditions for
Japanese investors who want to invest in Vietnam.

He said the move will help Vietnam become an important link in the supply chain
of Japanese enterprises, particularly in the fields of automobile
manufacturing, electronics, medical equipment, garment and textiles, and sectors
that bring benefits to bilateral economic-trade ties.

Vietnam, Japan to work closely for effective implementation of CPTPP hinh anh 2Automobile production belt of Japanese-based Toyota (Photo: VNA)

Nishimura, for his part, proposed that Vietnam support Japan’s initiatives, and
continue to work with Japan to implement the trade pact.

As several countries, including the UK, have expressed an interest in joining
the agreement, the Japanese minister hoped Vietnam would endorse the
organisation of the fourth CPTPP Commission meeting in early June, which will consider
negotiating with the UK after it made a formal request to join on February 1.

The CPTPP covers 13 percent of global GDP and groups together Australia,
Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore,
and Vietnam.

China, the Republic of Korea, Taiwan (China),
and Thailand have also expressed an interest in joining./.