HANOI – Japan and Vietnam have pledged to
work together to expand trade and promote investment by Japanese companies’ in
the Southeast Asian nation over the weekend, in Hanoi.

Japan’s Industry Minister Motoo Hayashi attended the inaugural Joint
Committee between the two countries on Cooperation in Industry, Trade and
Energy.

Both the countries’ governments agreed in July last year to
establish the committee for boosting bilateral economic cooperation.

“By using this committee as a springboard, we want to advance economic
relations between Japan and Vietnam to a new stage,” Mr Hayashi said.

Mr Hayashi became the first Japanese Cabinet minister to visit Vietnam
after the country’s ruling Communist Party unveiled its new leadership at the
12th National Congress in January.

The industry minister also met with Vietnamese Deputy Prime Minister
Nguyen Xuan Phuc, who is set to become prime minister, and exchanged opinions
about the strengthening of the two countries’ relations based on their
strategic partnership.

Once the Trans-Pacific Partnership free trade agreement enters into
force, restrictions on foreign investment in Vietnam’s retail industry will be
eased. Japan and Vietnam are among the 12 nations that signed the TPP deal
earlier this year.

– with Jiji Press