The visit takes place at a time when the relationship between Vietnam and Japan is developing positively. In October 2006, Prime Minister Nguyen Tan Dung visited Japan, opening up a new chapter in the development of bilateral ties towards a strategic partnership for peace and prosperity in Asia. During another visit to Japan in November 2007, State President Nguyen Minh Triet and Japanese Prime Minister Yasuo Fukuda signed a joint statement on “deepening the Vietnam-Japan relationship” and working out a programme of cooperation to concretise the strategic partnership. Notably during a visit to Japan in April 2009, Party General Secretary Nong Duc Manh and Japanese Prime Minister Taro Aso also signed a joint statement along similar lines. The exchange of reciprocal visits at all levels has also helped promote mutual trust and understanding, completing the framework of cooperation between the two countries.
Japan is one of Vietnam’s leading economic partners. It is the largest provider of official development assistance (ODA) capital to Vietnam, with a committed total of more than US$14 billion. It is also the third largest foreign investor in Vietnam, with a total in registered capital of more than US$16 billion.
Two-way trade between Vietnam and Japan reached US$17 billion last year, surpassing the US$15 billion target set for 2010. Japan is Vietnam’s second biggest trade partner after China and the second biggest importer after the US. In January 2009, Vietnam exported US$421.5 million worth of commodities to Japan, while importing US$298.2 million from this North-east Asian nation.
Both countries signed the Vietnam-Japan Economic Partnership Agreement (VJEPA) on December 25, 2008. Together with the Japan-ASEAN comprehensive economic partnership agreement, VJEPA is expected to create a favourable legal framework for developing economic and trade ties between the two countries, opening up opportunities for boosting the export of commodities and guestworkers to Japan.
The annual conference on “The Future of Asia” hosted by Nikkei is a prestigious forum in Asia, which draws the participation of heads of state and politicians from many Asian countries as well as CEOs from many leading economic groups in the world.
At this year’s event on the theme of Asia Confronting Challenges -Pursuit of New Frontiers, delegates will examine ways of overcoming the difficulties and challenges that Asia is facing in the context of the global financial crisis. They will also discuss new areas of cooperation to help underdeveloped nations to integrate deeper into the regional economies.
Cooperation between Japan and countries in the greater Mekong sub-region will be one of the main topics of discussion during the event to mark the Mekong-Japan Exchange Year 2009. Mr Dung is scheduled to deliver a speech at the plenary session of the conference on May 21. He will exchange views with leaders of the participating countries to increase cooperation to cushion the impact of the global economic and financial turmoil. At the same time, he will speak of Vietnam’s efforts to make the best of the cooperation and assistance offered by Japan and other countries to the development of the national economy.
Accompanying PM Nguyen Tan Dung, Minister of Transport Ho Nghia Dung will attend a panel discussion on May 22 on the theme “Explore the potential of the East Asia Industrial Corridor – the Impact of Mega Logistic Infrastructure Projects.”
