Vietnam-Japan trade turnover at US$16.3 billion in first 8 months

Speaking at a forum on October 9, co-organized by Investment and Trade Promotion Center of Ho Chi Minh City (ITPC) and Japan External Trade Organization (JETRO), Ho Thi Kim Thoa, Deputy Minister of Industry and Trade, informed that Vietnam-Japan trade turnover in first eight months of this year was at US$16.3 billion.

Workers of Japanese Koda Company in HCMC make furniture for export (Photo: SGGP)

The Deputy Minister said that the Vietnam-Japan Economic Partnership Agreement in 2008 was a turning point in the history of Vietnam-Japan relations.

Japan is one of the most important economic partners of Vietnam and the first G7 country to recognize Vietnam’s market economy in October 2011.

Taking advantage of the Economic Partnership Agreement, the two countries have raised two-way trade.

In first eight months, trade turnover was at US$16.3 billion, of which Vietnam’s export turnover was at $8.8 billion and import was at $7.5 billion.

Trade surplus recorded was at $1.3 billion, an increase of 28.4 percent year-on-year.

In addition to highly competitive traditional commodities such as wooden items, arts and crafts, sea food, Vietnam also exported mechanical equipment, telephones, computers and cameras in large quantities to Japan.

Lately Vietnam has supplied agricultural produce to Japan as well.

In recent five years, Japan has become one of the leading investors in Vietnam. Japan’s registered investment in Vietnam is more than US$33 billion with 2,029 projects. Moreover, Japan has made great contribution to Vietnam’s electricity sector and many other significant industrial projects.

By Thuy Hai, Dinh Ly – Translated by Uyen Phuong

Other news

Most view

Vietnam's iron & steel exports hit US$2.53 billion in 7 months

Vietnam's iron & steel exports hit US$2.53 billion in 7 months

According to the Ministry of Industry and Trade, Vietnam exported 3.41 million tons of iron and steel in the first seven months with total turnover of US$2.53 billion, up 40.4 percent in quantity and 56.3 percent in value over the same period last year.


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market