Vietnam and Japan to work closely for effective implementation of CPTPP – The Star Online

Credit: Original article can be found here

HANOI, May 28 (Bernama): 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 recently, Vietnam news agency (VNA) reported.

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.

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 United Kingdom (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 per cent of global GDP and groups together Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

China, South Korea, and Thailand have also expressed an interest in joining. – Bernama