Vietnam, Japan agree to boost bilateral trade by nearly double

dpa German Press Agency
Published: Monday October 23, 2006

Hanoi- Vietnam and Japan agreed to increase bilateral trade to 15 billion dollars per year by 2010, following the visit of Vietnamese Prime Minister Nguyen Tan Dung to Tokyo last week, local press reported Monday. Dung met with newly elected Japanese Prime Minister Shinzo Abe, who promised to continue and increase foreign aid and investment in Vietnam, according to Tuoi Tre newspaper's online edition.

The two countries also pledged to begin negotiating an economic partnership agreement, Vietnamese Minister of Planning and Investment Vo Hong Phuc told the paper.

"I hope Vietnam and Japan will be able to sign this agreement in 2009," Phuc was quoted as saying.

Last year, bilateral trade between the countries was 8.5 billion dollars and is expected to reach 9.5 billion by the end of this year, according to Vietnam's Ministry of Trade.

Vietnam exports mainly crude oil, seafood, garments, coal and footwear to Japan, and this year has a slight trade surplus with the world's second-largest economy.

© 2006 dpa German Press Agency