Dialogue on agricultural trade and investment policies with Japan

Attendees at the conference included Deputy Minister of Agriculture and Rural Development Tran Thanh Nam; Vietnamese Ambassador to Japan Pham Quang Hieu; Mr. Kunieda Gen from the Export and International Relations Department, representing the Japanese Ministry of Agriculture, Forestry, and Fisheries; along with numerous businesses from the agriculture sector in both Vietnam and Japan.

The conference featured four presentations focusing on practical and specific content regarding the current situation, opportunities, potential, and policies encouraging trade and investment in the agricultural sector between the two countries.

In his speech, Deputy Minister Tran Thanh Nam noted that the presentations revealed several trends. The agricultural structures of the two countries complement each other, with Vietnam exporting products that leverage its agricultural land, and tropical agricultural products, while importing agricultural production inputs like machinery, fertilizers, and high-quality temperate agricultural products from Japan.

Regarding investment, Japanese companies are also leveraging their technology and capital strengths to invest in agricultural production in Vietnam, forming supply chains for the Japanese market and exporting to third countries.

However, Deputy Minister Tran Thanh Nam also mentioned that despite the potential for trade and investment, the growth in these areas is not yet stable, and the proportion of agricultural trade between the two countries remains modest compared to global agricultural trade. The potential for cooperation has not yet been fully realized in concrete results.

He added that in 2023, Japan was the third-largest export market for Vietnamese agricultural, forestry, and fishery products. In the first six months of 2024, export value to Japan reached $ 1.91 billion, accounting for 6.6%, a 5% increase.

The Deputy Minister emphasized that the current period presents a great opportunity for Vietnamese and Japanese businesses to be more dynamic, fully utilize their capabilities, strengthen connections and trade to seize and leverage existing advantages in history, geography, investment environment, business conditions, and government support from both countries to enhance trade and investment in agriculture.

The Deputy Minister expressed satisfaction with the opportunity to listen to and discuss the issues and concerns of businesses regarding trade and investment in Vietnamese agriculture. He committed that based on understanding the concerns and aspirations of the Japanese side, the delegation would advise the Ministry and Government to develop mechanisms and policies to further encourage and support agricultural trade and investment between Vietnam and Japan.