Asia: Vietnam looks to deepen strategic partnership with Japan

Speaking to Japanese media agencies ahead of his official visit to Japan in June, Prime Minister Nguyen Xuan Phuc reiterated his desire to build closer ties to Japan and strengthen bilateral economic cooperation and double investment and trade turnover by 2020.

The Nikkei quoted PM Nguyen Xuan Phuc as saying that the Trans-Pacific Partnership (TPP) agreement is crucial to connecting and developing the economies in the Asia-Pacific region. According to Jiji news agency, PM Nguyen Xuan Phuc affirmed that despite US withdrawing from the TPP, Vietnam is committed to working with other TPP member nations, such as Japan, to help the multilateral free trade pact take effect at an early date.

RFi Group Data suggests that 33% of Foreign Direct Investment into business in Vietnam, comes from Japan. With PM Nguyen Xuan Phuc’s visit to Japan aiming to affirm that Vietnam sees importance in deepening the extensive strategic partnership between the two countries, Foreign Direct Investment in Vietnam would likely be influenced.


Source: RFi Group – Vietnam Commercial Banking Council (16H1)

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