Vietnam-Japan trade value reaches $25.87 bln in 7M

The two-way trade turnover between Vietnam and Japan is estimated at $25.87 billion in the first seven months of the year, up 4% year-on-year figures from the General Department of Vietnam Customs show.

Of which, export value from Vietnam stood at $13.46 billion, a year-on-year surge of 2.8%.

In order to boost exports to Japan, experts at a seminar held in Ho Chi Minh City on August 26 proposed businesses to improve the quality of their products, and perform better corporate governance.

Japan has high demands for Vietnamese garments and textiles, fine arts, farm produce and food, among others, they said at the seminar held to discuss ways to support local businesses to expand exports to Japan.

Head of the Vietnam Trade Office's Branch in Osaka Quyen Thi Thuy Ha said the Japanese market has been hungry for agricultural products of Vietnam such as coffee, cashew nuts, tropical fruits and frozen fruits and vegetables.

Vietnam currently accounted for just 3% of Japan’s total import and export value so there is ample room for Vietnamese businesses to boost exports to this market, according to Ms. Ha.

She suggested Vietnamese enterprises study new techniques to better their production processes, from cultivation, harvest, preservation to packaging.

Along with the traditional trade form, they should tap e-commerce to increase exports, and improve revenue since more Japanese consumers have shifted to online shopping, she said.