MoIT leader meets with Japanese Deputy Minister of Foreign Affairs

On the sidelines of the ongoing APEC Ministers Responsible for Trade Meeting (MRT) in Jeju, South Korea, on May 15, Minister of Industry and Trade Nguyen Hong Dien held a bilateral meeting with Japanese Deputy Minister of Foreign Affairs Miyaji Takuma.

Full Overview of the Courtesy Meeting between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Japanese Deputy Minister of Foreign Affairs Miyaji Takuma

During the meeting, both sides agree that economic, trade, and investment cooperation between Vietnam and Japan continues to enjoy strong momentum, driven by a network of multilateral and bilateral trade frameworks, including the Vietnam-Japan Economic Partnership Agreement (VJEPA), the ASEAN-Japan Comprehensive Economic Partnership (AJCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).

Japan is currently Vietnam’s fourth-largest trading partner, following China, the United States, and South Korea. In 2024, bilateral trade between the two countries reached USD 46.2 billion, up 2.7% from 2023. Of this, Vietnam’s exports to Japan amounted to USD 24.6 billion, an increase of 5.5%, while imports from Japan stood at USD 21.6 billion, a slight decline of 0.2%.

In the first quarter of 2025, bilateral trade totaled USD 12.2 billion, marking an 8.9% year-on-year increase. Vietnam’s exports to Japan reached USD 6.4 billion, up 12.5%, while imports from Japan rose to USD 5.8 billion, a 5.3% increase.

Vietnamese Minister of Industry and Trade Nguyen Hong Dien delivers remarks during the meeting with Japanese Deputy Minister of Foreign Affairs Miyaji Takuma.

The trade structure between the two countries remains highly complementary, with little direct competition. Vietnam primarily exports seafood, crude oil, textiles and garments, electrical wires and cables, wood and wooden products, computers and components, coal, and footwear to Japan. Meanwhile, imports from Japan largely consist of industrial production inputs such as machinery, equipment, tools and spare parts, electronics and components, steel, fabrics, auto parts, plastic materials, chemicals, and raw materials for the textile, garment, leather, and footwear industries.

During the meeting, the two sides exchanged views and proposed various collaborative measures aimed at further strengthening bilateral cooperation in trade and industry. In particular, on trade cooperation, Vietnam called on Japan to consider further opening its market to more varieties of fresh Vietnamese fruits, and to assist Vietnam in enhancing its trade management capabilities, particularly in combating counterfeit goods, improving distribution systems, and developing logistics services.

Japanese Deputy Minister of Foreign Affairs Miyaji Takuma discusses proposed solutions to enhance bilateral cooperation.