Japan, Vietnam begin to discuss free trade deal

Japan and Vietnam are holding their first study session to explore the possibility of signing a bilateral free trade agreement (FTA), Japanese news agency Kyodo reported Wednesday.
Government officials and business representatives of the two countries were scheduled to take part in the three-day meeting starting Thursday in Hanoi, the report said quoting the Japanese foreign ministry.
The session was aimed at specifying areas in which Tokyo and Hanoi can start negotiations to free up trade, the ministry said.
Prime minister Junichiro Koizumi and his Vietnamese counterpart Phan Van Khai agreed last December to launch the FTA study meeting.
The two countries hoped to kick off formal FTA negotiations around summer, Kyodo quoted government officials as saying.
Vietnam is a member of the Association of Southeast Asian Nations, which has been in formal FTA talks with Japan since last April. The 10-member regional body and Japan aim to complete their negotiations by the spring of 2007.
Japan also agreed with Brunei last December to start preliminary FTA talks so that the two countries can launch formal negotiations in 2006.
Among Asean members, Japan has an FTA with Singapore, signed one with Malaysia and struck basic FTA accords with the Philippines and Thailand. It has been in negotiations with Indonesia.
The other three Asean members are Cambodia, Laos and Burma.

 

Category: Legal