HANOI: Japanese industry and trade minister Yasutoshi Nishimura and his Vietnamese counterpart, Nguyen Hong Dien, at a meeting in Hanoi on Friday, exchanged opinions on their countries’ cooperation, including in strengthening supply chains.
Nishimura said that Japan wants to accelerate cooperation with Vietnam for an early agreement in the ongoing negotiations on the U.S.-led Indo-Pacific Economic Framework for Prosperity (IPEF), which aims to create new rules on supply chains and other areas.
Japan and Vietnam are set to take part in a series of meetings related to the Asia-Pacific Economic Cooperation forum to be held in the United States in mid-November.
Countries participating in the IPEF negotiations, including Japan and Vietnam, are expected to hold talks on the fringe of the APEC gatherings. The United States hopes to make substantial progress in the upcoming IPEF talks.
In the past, Japan and Vietnam joined forces to help reach consensus in negotiations on the Trans-Pacific Partnership free trade deal.
At the Friday meeting with the visiting Japanese minister, Dien showed Vietnam’s stance of cooperating with Japan in the IPEF negotiations.
Nishimura and Dien also agreed that Japan and Vietnam will set up a working group on measures to enhance supply chains. Through the task force, the two countries are expected to discuss specific ways of cooperation.