Japan, Vietnam Trade Ministers Discuss Supply Chains, IPEF

Jiji Press

13:24 JST, November 4, 2023

HANOI (Jiji Press) — Industry and trade minister Yasutoshi Nishimura and Vietnamese counterpart Nguyen Hong Dien exchanged opinions on cooperation between the two countries, including strengthening supply chains. at a meeting in Hanoi on Friday.

Nishimura said that Japan wants to accelerate cooperation with Vietnam for an early agreement in ongoing negotiations on the U.S.-led Indo-Pacific Economic Framework for Prosperity (IPEF), which aims to create new rules on supply chains and in 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, which includes Japan and Vietnam, are expected to hold talks on the sidelines of the APEC gatherings. The United States hopes to make substantial progress in the 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 Nishimura, 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 it, the two countries are expected to discuss specific means of cooperation.