15:54 | 07/08/2015 Cooperation
(VEN) - Japanese-Vietnamese cooperation has made major changes in all sectors, especially in economic cooperation. During a recent talk between Vietnamese Prime Minister Nguyen Tan Dung and his Japanese counterpart Shinzo Abe on the sidelines of the seventh Mekong-Japan Summit, the two sides reached many important agreements, contributing to deepening the Japanese-Vietnamese strategic partnership.
ODA commitment hits record
Japanese Prime Minister Shinzo Abe pledged to provide a record of up to US$3 billion in official development assistance (ODA) capital for Vietnam in the 2015 fiscal year. This capital is used for basic infrastructure projects such as two Lach Huyen Port projects, the sewerage treatment project for Ho Chi Minh City and the Thai Binh Thermal Power Plant project.
Japanese Prime Minister Shinzo Abe also agreed on conducting feasibility study for some pieces of the north-south high-speed railway, supporting the Vietnamese industrialization strategy and accelerating the signing of medium and long-term visions in agricultural cooperation between the two countries. Japan also committed to support Vietnam in the Japan-Vietnam Friendship Hospital project and those projects on adapting to climate change and improving management capacity of Vietnamese agencies as well as providing vessels for Vietnam to improve fishery capacity and building ships for Vietnamese coast guards.
The two sides reaffirmed determination to effectively implement large-scale projects such as the Ninh Thuan 2 Nuclear Power Plant, the Vietnamese industrialization strategy and the feasibility study for some pieces of the north-south high-speed railway, strengthen investment and agricultural cooperation, develop human resources and conduct the possibility of cooperation in the US$110-billion credit plan announced by Japanese Prime Minister Shinzo Abe in May 2015 to develop high-quality infrastructure in Asia.
Towards the conclusion of the TPP Agreement
Vietnamese Prime Minister Nguyen Tan Dung and his Japanese counterpart Shinzo Abe declared the basic conclusion of bilateral negotiations within the framework of the Trans-Pacific Partnership (TPP) Agreement and will work together with other members to soon conclude negotiations and drive towards the signing.
Minister of Industry and Trade Vu Huy Hoang said that Japan is seen as the second largest economy among the 12 member countries participating in the TPP Agreement. Moreover, Japan has strict requirements on product quality, especially industrial products and has also offered protection policy quite closely for some agricultural products. Therefore, the basic conclusion of bilateral negotiations with Japan is seen as Vietnam’s major advance.
Successful negotiations with Japan has brought important meaning, creating favorable conditions for Vietnam to promote negotiations with other partners, especially the US-the largest economy among the 12 member countries.
The two governments also agreed to establish the joint committee on industry, trade and energy cooperation as well as support businesses between the two countries to promote links and cooperation.
The two sides have conducted the signing of a series of documents and agreements such as a loan agreement on five ODA projects in the 2014 fiscal year valued at JPY66 billion, a diplomatic note of exchange for three ODA projects in the 2015 fiscal year, a memorandum of cooperation between the Vietnamese Ministry of Industry and Trade and the Japanese Ministry of Economy, Trade and Industry on the establishment of a joint committee on industry, trade and energy cooperation and a cooperation agreement between the Vietnamese Ministry of Planning and Investment and the Japan External Trade Organization (JETRO) in order to further strengthen the cooperation between the two countries.
In addition to bilateral commitment to Vietnam, at the seventh Mekong-Japan Summit, Japanese Prime Minister Shinzo Abe announced decision to provide JPY750 billion in ODA capital for the Greater Mekong Sub-region countries, including Vietnam in the next three years.