This is the first meeting by the Joint Committee on the Implementation of the VJEPA since the two countries officially signed the accord in 2008. 

The event mark a step forward in economic, trade, cooperation and investment relations between Vietnam and Japan, said Minister of Industry and Trade Vu Huy Hoang. 

The Japanese Minister for Foreign Affairs Katsuya Okada confirmed that relations between the two countries have been developing steadily, not only in economy, trade and investment but also in many other fields. “ Japan’s firm policy is that bilateral relations should be lifted to new heights,” Minister Katsuya added. 

The negotiation on the VJEPA started in January 2007, shortly after the accession of Vietnam to the World Trade Organisation. Both nations officially signed the accord on December 25, 2008. 
The VJEPA is Japan’s 10th free trade agreement following other deals with Singapore, Mexico, Malaysia, Chile, Thailand and the Association of Southeast Asian Nations (ASEAN). 

The VJEPA is Vietnam’s first bilateral free trade agreement since entering the WTO. 
Under the VJEPA, 94 percent of exports and 86 percent of agricultural exports from Vietnam to Japan will be exempted from tax within 10 years after the VJEPA takes effect. 

During the first stage, the two countries will give priority to training Vietnamese nurses in Japan, building a system to appraise the qualifications and ability of medical workers, setting up a business dialogue mechanism in the garments sector; and developing its support industries.