Hanoi (VNA) – A forum was held by the CentralInstitute for Economic Management (CIEM) in Hanoi on November 15 to discusstrade and investment cooperation between Vietnam and Japan.

The Vietnam– Japan Policy Research Forum also offered a chance for participantsto talk efforts to bolster bilateral collaboration in order to maximize benefitsfrom regional and global integration in the next context.

Addressing the event, CIEM Director Nguyen Dinh Cung said the relationshipbetween Vietnam and Japan has continuously developed over the past 45 years.The two countries established their strategic partnership in 2009 and upgradedit to a comprehensive strategic partnership in 2014.

“Being the two most active members in one of the world’s most dynamic regions, Vietnamand Japan need to look beyond cooperation in trade and investment to strengthenbilateral cooperation,” he said.

Nguyen Anh Dương, head of the CIEM’s Macroeconomic PolicyDepartment, said there is significant room to boost the cooperation betweenenterprises in Japan and Vietnam.

But he stressed for maximum potential, Vietnam needs to bemore proactive.

“It is important to change the thinking in joining the globalvalue chain. In addition, Vietnam should also promote multilateral cooperationto facilitate and encourage investment,” Duong said.

He pointed out that the cooperation with Japan contributed largelyto improving production capacity.

Senior economist Vo Tri Thanh said at the forum that Vietnamremains a top destination for Japanese investors.

Vietnam needs to renovate its growth model towards innovationand productivity while shifting its policies for attracting foreign directinvestment, he noted.

“Attracting foreign direct investment should aim at promotingtechnology transfer, improving capacity and promoting green and sustainablegrowth,” he added.

According to Mie Oba from Tokyo University of Science, it isimportant to build regional order, maintain economic order and promote theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)and other bilateral and multilateral agreements.

At the event, participants focused on discussing the real situation and issuesin Vietnam-Japan trade relations since 2008, the Vietnam-Japan EconomicPartnership Agreement, efforts to boost investment collaboration between thetwo nations since 2008, and initiatives and measures to enhance Vietnam-Japantrade and investment.

The Vietnam-Japan Economic Partnership Agreementwas signed on December 25, 2008 and took effect on October 1, 2009.

Japan has been one of the top investors in Vietnamwith around 60 billion USD so far.

It is also an important trade partner of the Southeast Asiancountry with two-way trade hitting 33 billion USD in 2017 and 27.8 billion USDin the first nine months of this year.-VNA