|
Vietnam, Japan complete EPA negotiations
Vietnam and Japan have completed 19-month-long negotiations regarding a bilateral Economic Partnership Agreement (EPA), the Vietnamese Minister of Industry and Trade, Vu Huy Hoang, announced in Hanoi on Sept. 29.
The two sides will complete all the procedures necessary for the signing of the EPA later this year, Hoang added.
The EPA is a comprehensive agreement built in accordance with the World Trade Organisation’s (WTO) standards and rules, aiming to facilitate the trading of commodities, capitals, technologies and skillful labour between the two countries.
The agreement will focus on intensifying bilateral cooperation in agriculture, industry, trade and investment, human resource development, tourism, environment and transport.
In the initial stage, the two sides will prioritise projects addressing the training of Vietnamese nurses, implementing a job verification system for Vietnam , and establishing a mechanism facilitating business dialogue in the textile and garment industry.
Japan will also assist Vietnam in the development of auxiliary industries, improving food hygiene and safety management, and perfecting the country’s quality standards system.
Minister Hoang said the completion of negotiations towards the signing of the EPA was a political and economic event of major significance to bilateral relations, marking the 35th anniversary of the two countries’ diplomatic ties.
“The EPA shows the two countries’ cooperation has reached new heights, corresponding to the target of establishing a ‘Strategic partnership for peace and prosperity in East Asia ’,” said Minister Hoang.
The Japanese Ambassador to Vietnam, Mitsuo Sakaba, highlighted the strong development of the Vietnamese economy over recent years, affirming the fact that Vietnam is one of his country’s important trade partners.
The Ambassador pledged further cooperation with Vietnam and said he believed that the EPA would be a foundation for the two sides to enhance their trade ties in the future.
Japan is now Vietnam’s third largest trade partner. The two countries expect to record 15 billion USD in two-way trade this year, two years ahead of the target agreed upon by the two countries’ leaders.
VNA
|
