Japan will assist Vietnam in building a high-quality agricultural production chain covering the production, processing, distribution and sale of Vietnamese agricultural products, especially those destined for the Japanese market
Both countries held their first meeting on agricultural development cooperation in Vietnamese capital Hanoi, attended by Vietnamese President Truong Tan Sang and Japan’s agriculture, forestry and fisheries minister Yoshimasa Hayashi.
The dialogue called for the development of a medium-to-long-term vision for agricultural sector cooperation between the two countries, Vietnam Briefing reported. The meeting concluded with a bilateral agreement that aims to promote Vietnam’s farm sector growth and increase investment opportunities for Japanese firms in the Vietnamese market.
With advanced biological technology from Japan, Vietnam will be able to increase its agricultural productivity and produce high-value products that meet both Japanese and world standards, it added.
During the first phase of bilateral agricultural cooperation between the two countries, Japan will focus on helping Vietnamese products, such as shrimp and coffee, to meet its food safety standards. Once Vietnam is able to produce qualified products that meet Japanese standards, other products aside from coffee and shrimp will be permitted to enter the market.
According to Japan External Trade Organization (JETRO), Japanese firms have been actively looking for opportunities in Vietnam’s Binh Dinh province’s fishing and the tuna processing industries. Another popular destination for Japanese firms is the Mekong Delta, which features significant potential for the development of agriculture and fishery operations.
Cooperation between the two countries, one with an abundant supply of raw agricultural materials and one with advanced technology in farming and agricultural processing, is expected to improve economic efficiency on both sides.
