Vietnam holds great potential in food value chain development with a large consumption market and high export values, especially as the country is a member of various free trade agreements (FTAs), heard a seminar held in Hanoi on January 14.
Addressing the trade promotion event, organised by the Japan International Cooperation Agency (JICA), Deputy Chief Representative of JICA Naomichi Murooka said concern for clean foodstuff in Vietnam has been on the rise.
Additionally, the country is actively joining in FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Europe-Vietnam Free Trade Agreement (EVFTA), gaining more prospects for the food sector.
Japan has provided support for Vietnam in agriculture and food value chain development over the years, contributing to the Vietnam-Japan strategic partnership in the agricultural sector, he added.
Meanwhile, Director of the International Cooperation Department of the Ministry of Agriculture and Rural Development Nguyen Do Anh Tuan said Vietnam’s agriculture export turnover in 2019 hit a record of 41.3 billion USD.
However, the sector is entering a new phase of development with stricter requirements, the official noted, stressing the need for Japan’s support in market access and building e-commerce platforms and high-tech agricultural development, among others.
In the framework of the Japan-Vietnam Medium-long Term Vision on Agricultural in the 2015-2019, the two countries carried out a number of activities to improve output and added value of Vietnam’s agriculture.