7th Vietnam-Japan Joint Committee meeting on industry, trade, energy cooperation held in Tokyo

During the meeting, the two ministers expressed their satisfaction with significant achievements in bilateral cooperation since the previous meeting held in Vietnam in November last year.

They reaffirmed the importance of the joint committee mechanism in addressing business challenges, promoting investment and trade exchange, enhancing supply chain resilience, developing a digital economy, and advancing renewable energy and low-carbon emissions.

The ministers affirmed directions for future bilateral cooperation.

In the industrial sector, Muto emphasised that Vietnam plays a vital role in the global supply chain for Japanese companies, and both sides will collaborate to enhance the stability of this supply chain toward future economic growth.

They welcomed the launch of the Vietnam-Japan Joint Initiative in the new era in March this year, building on the objectives of the previous Vietnam technology innovation partnership. Both ministers expressed their hope for further progress in Vietnam's industrialisation and modernisation efforts, aiming to become a high-income nation by 2045.

At Dien's request, Muto affirmed his commitment to encouraging and supporting Japanese businesses to increase investments in Vietnam, and enhancing industrial workforce training, particularly in semiconductor.

Besides, Vietnam proposed Japan share its experience and support technology transfer related to high-speed rail construction, enabling Vietnamese companies to gradually master technology and enhance their capabilities.

Regarding the trade sector, the ministers reaffirmed their commitment to creating a free, fair, non-discriminatory, transparent and stable trade and investment environment and an open market, and maintaining a rules-based multilateral system within the World Trade Organisation (WTO) framework.

They welcomed the outcomes of the 13th WTO ministerial conference and reiterated their commitment to continuing to reform the WTO.

Both sides also reaffirmed their commitment to promoting economic integration in the Asia-Pacific region, and mutual support and close coordination within the multilateral framework for economic and trade cooperation, of which both countries are members.

In particular, they emphasised the importance of maintaining high standards of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), while affirming that both countries will continue to work closely with each other and other members within the framework of the Indo-Pacific Economic Framework (IPEF) to ensure the negotiation process on remaining IPEF issues achieves favourable results.

The ministers discussed and agreed on several measures to enhance cooperation aimed at improving bilateral trade volume, promoting trade activities, connecting logistics, and developing e-commerce and the digital economy - essential trends in the 4th Industrial Revolution.

Regarding the energy sector, they welcomed the achievements of the second Asia Zero Emission Community (AZEC) Ministerial Conference and the second AZEC Summit, affirming AZEC plays a crucial role in promoting emission reductions and enhancing regional cooperation to achieve economic development goals and address climate change.

Minister Dien suggested Japan continue supporting Vietnam in implementing the Just Energy Transition Partnership (JETP), selecting suitable specific projects to jointly refine financial and technological mechanisms.

The two ministers welcomed Vietnam's announcement to restart nuclear power plant construction projects to ensure national energy security. Japan, with its advanced technology and high safety standards, is ready to support Vietnam in rebuilding nuclear power plants and training high-quality human resources in the nuclear energy sector.

They also discussed and agreed on measures to enhance cooperation in specific energy areas, such as decarbonisation in industrial parks and supply chains, and support Vietnam in improving energy efficiency and power regulation.

The ministers adopted the joint statement of the meeting and instructed their officials to discuss and finalise plans for implementing the specific cooperation contents they had agreed.

Earlier, on December 19, as part of the official visit to Japan, the delegation from Ministry of Industry and Trade and the Vietnamese Embassy in Japan co-organised the Vietnam-Japan Business Forum.