Viet Nam, Japan eye USD 60 billion in trade as Joint Committee meets in Tokyo

On the morning of November 9, 2026, in Tokyo, as part of the official visit to Japan by To Lam, Party General Secretary and State President, Minister of Industry and Trade Le Manh Hung and Japan's Minister of Economy, Trade and Industry Akazawa Ryosei co-chaired the 8th meeting of the Viet Nam - Japan Joint Committee on Cooperation in Industry, Trade and Energy.

The meeting was attended by leaders of functional units under the Ministry of Industry and Trade (MoIT) and the Vietnamese Embassy in Japan; representatives of units under Japan's Ministry of Economy, Trade and Industry (METI) and the Japanese Embassy in Viet Nam; and several major Vietnamese energy businesses.

Overview of the meeting. Photo: MoIT

Overview of the meeting. Photo: MoIT

The two ministers acknowledged the positive results achieved in implementing the commitments made in the Joint Statement of the 7th meeting. Bilateral trade continued to grow, reaching USD 51.5 billion in 2025 and surpassing USD 50 billion for the first time, while trade in the first nine months of 2026 reached USD 44 billion. On that basis, the two ministers expressed their expectation that two-way trade could reach USD 60 billion in 2026.

Amid fluctuations in the regional and global economy, the two ministers stressed the role of the Joint Committee in maintaining dialogue, coordinating efforts to resolve difficulties and identifying priorities for cooperation between the two countries.

On trade, the two sides agreed to step up trade promotion and business matchmaking, diversify import and export products and facilitate the exchange of goods. They also stressed the need to make effective use of the free trade agreements to which both Viet Nam and Japan are parties, including the Comprehensive and Progressive Agreement for Trans - Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), alongside stronger coordination within regional and multilateral economic and trade cooperation frameworks.

Minister Le Manh Hung and the Vietnamese delegation at the meeting. Photo: MoIT.

Minister Le Manh Hung and the Vietnamese delegation at the meeting. Photo: MoIT.

The two ministers also agreed to promote cooperation in logistics, cross-border e-commerce and the digital economy, and to strengthen infrastructure connectivity and the sharing of experience in order to improve supply chain efficiency and help businesses of both countries expand their markets.

On energy, the two ministers affirmed their continued cooperation in ensuring energy security, promoting the energy transition and developing clean energy sources in line with each country's conditions and development orientations. The two sides acknowledged the results of cooperation within the framework of the Asia Zero Emission Community (AZEC) and agreed to promote gas-fired power, renewable energy and new energy technology projects.

On the basis of the agreement on nuclear power cooperation signed on this occasion, the two ministers discussed the direction of future cooperation in developing nuclear power. The two sides also discussed energy efficiency and conservation as well as human resource training, and stressed cooperation in ensuring supply security, enhancing oil reserve capacity and participating in regional energy initiatives, including Japan's POWERR Asia initiative.

On industry, the two ministers agreed to promote cooperation in priority industries, supporting industries and manufacturing and processing, and to strengthen business linkages to develop strategic supply chains that are stable, sustainable and resilient to fluctuations in the global economy. The two sides exchanged views on needs and directions for cooperation in critical minerals, with the Vietnamese side sharing relevant guidelines and policies.

Minister Le Manh Hung asked Japan to build on its strengths and continue supporting Viet Nam in developing its supporting and automotive industries, particularly in research and development (R&D), technology transfer and the manufacture of high value-added products. He also called for stronger cooperation in human resource training in mechatronics, precision engineering, automation, semiconductors and emerging manufacturing technologies, as well as the sharing of experience in developing and managing industrial parks and operating eco-industrial park models, in order to promote value chain linkages among manufacturers, supporting industry businesses, research institutes and training institutions.

Minister Le Manh Hung and Japanese Minister Akazawa Ryosei pose for a commemorative photo at the 8th Joint Committee meeting in Tokyo.

Minister Le Manh Hung and Japanese Minister Akazawa Ryosei pose for a commemorative photo at the 8th Joint Committee meeting in Tokyo.

Concluding the meeting, the two ministers agreed to continue coordinating closely to translate the agreed orientations into practical cooperation activities in industry, trade and energy, contributing to deepening the Viet Nam - Japan Comprehensive Strategic Partnership.

Translation by Le Van
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Viet Nam, Japan eye USD 60 billion in trade as Joint Committee meets in Tokyo

Viet Nam, Japan eye USD 60 billion in trade as Joint Committee meets in Tokyo

On the morning of November 9, 2026, in Tokyo, as part of the official visit to Japan by To Lam, Party General Secretary and State President, Minister of Industry and Trade Le Manh Hung and Japan's Minister of Economy, Trade and Industry Akazawa Ryosei co-chaired the 8th meeting of the Viet Nam - Japan Joint Committee on Cooperation in Industry, Trade and Energy.