The event was co-hosted by the Vietnam Trade Promotion Agency, in co-ordination with the Asia - Africa Market Department, Vietnam’s Trade Office in Japan, and the ASEAN Promotion Centre on Trade, Investment and Tourism. Approximately 40 Vietnamese enterprises along with 55 Japanese importers registered to participate in the conference.
During the event, local businesses introduced Japanese distributors and importers to a variety of local products, including fruit and vegetables, dried food, confectionery items, beverages, frozen and canned seafood, wood products, garments, household plastics for packaging, and medical supplies suitable for COVID-19 prevention and control.
Elsewhere, Japanese experts were able to update businesses with important guidelines regarding the procedures and regulations for importing consumer goods into the Far East nation.
Through the conference, both Vietnamese enterprises and Japanese importers are expected to gain a great insight into each side’s needs and capabilities, therefore making it more likely they can reach an agreement on trade promotion opportunities benefitting the two sides.
The event also served to contribute to supporting enterprises as they strive to overcome challenges caused by the pandemic, rapidly respond to market developments, and strengthen the extensive strategic partnership that exists between both countries.
Recent years has seen Japan develop into one of Vietnam’s leading economic partners. During the first five months of the year, despite the COVID-19 epidemic, the import-export turnover between both countries reached US$15.6 billion, a slight increase of 2.2% in comparison with the same period last year.
Currently, Japan is Vietnam’s fourth largest foreign investor, featuring registered investment capital of US$1.27 billion during the five-month period.
With the COVID-19 epidemic brought under control, the demand for consumer products such as agriculture, forestry, seafood, and household appliances in the Japanese market will begin to increase, according to economists, noting that local businesses should be active in boosting trade promotion activities to the Japanese market.