Japan-Viet Nam Economic Partnership Agreement (JVEPA)

Minister of Economy, Trade and Industry of Japan, Mr. Nikai and Minister of Trade of Vietnam, Mr. Truong Dinh Tuyen had a talk at a high-level meeting in the Asia-Pacific Economic Cooperation Forum held in November 2005 in Pusan. In the talk, the two parties agreed to carry out discussions on EPA. In October 2006, in the talk between high-ranking officials of Vietnam and Japan, the two parties agreed to start negotiation from January 2007. On 25 September 2008, the negotiation finished and the Agreement was officially signed on 25 December 2008. Prime Minister Nguyen Tan Dung signed Decision no. 57/2009/QD-TTg dated 6 April 2009 to approve the Japan-Vietnam Economic Partnership Agreement (JVEPA) and its Implementation of the Agreement between the two countries based on the JVEPA. The JVEPA officially took effect on 1 October 2009.

The Agreement boosts cooperation between the two countries in many areas such as: goods, services, investment, business climate improvement, human resource transfer, technical transfer, movement of natural persons, etc. Under this Agreement, 92% of goods exchanged between the two countries will enjoy tax exemption and reduction within 10 years from the date of validity of the Agreement.

The Agreement also agrees to advance Supporting Industries (SI) for both Japanese and Vietnamese enterprises operating in fields of automobile, motorbike and electric-electronics in Vietnam.