Strategic market for Vietnamese goods
After 50 years of establishing diplomatic relations, Vietnam and Japan have joined hands to foster an increasingly substantive and effective friendship and cooperation based on cultural similarities, strong historical ties and high political trust. Japan is Vietnam's leading economic, trade, investment, tourism and labor partner.
Vietnam - Japan trade relations are maintaining stable growth thanks to the positive impact of many bilateral and multilateral free trade agreements. Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department, Ministry of Industry and Trade, said that Japan is currently Vietnam's leading important economic partner. The two countries are currently participating in and benefiting from important agreements such as the Vietnam-Japan Economic Partnership Agreement (VJFTA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership Agreement (RCEP).
Statistics from Customs Department show that the total import-export turnover between Vietnam and Japan in 2024 will reach 46.2 billion USD. In the first 7 months of 2025, two-way trade will reach nearly 29 billion USD, continuing growth trend over the same period. Of which, Vietnam's exports to Japan will reach 15.14 billion USD, up 10.1% (up 1.39 billion USD). In the opposite direction, imports from Japan will reach 13.77 billion USD, up 9.2% (up 1.16 billion USD).
Structure of goods exchanged between the two countries is assessed to be highly complementary. Vietnam mainly exports agricultural products such as rice, coffee, cashew nuts, seafood and industrial products including textiles, footwear, wooden furniture, electronic components and machinery. In contrast, Japan is a large supplier of machinery, high-tech equipment, automobiles, spare parts and raw materials for production for Vietnamese enterprises.
"Characteristic of not competing directly but complementing each other in the commodity structure is an important foundation to help Vietnam - Japan trade relations develop sustainably, expanding scope for cooperation in many fields," Mr. Tran Thanh Hai emphasized.
For many years, Japan has maintained its position in the Top 3 largest import markets for wood and wood products from Vietnam. Mr. Ngo Sy Hoai, Vice President and General Secretary of the Vietnam Timber and Forest Products Association, said that in 2024, the export turnover of this group of products to Japan will reach 10.8% of the total value of nearly 16 billion USD of the whole industry. This is a key market, playing a key role in the growth of Vietnam's wood exports.
According to Mr. Hoai, new generation FTAs, especially CPTPP and RCEP, are very important in expanding space for cooperation between two countries. These agreements help expand tariff preferences, reduce trade barriers, create a favorable legal corridor, helping Vietnamese wood enterprises adapt more quickly to Japan's strict import regulations.
In particular, RCEP is considered the "key" for the Vietnamese wood industry to better exploit market advantages, increase export value and gradually improve competitiveness. The presence of RCEP helps businesses access more deeply into the regional supply chain, contributing to consolidating the position of the Vietnamese wood industry in one of the leading strategic markets, thereby expanding the prospect of sustainable development in the coming years.
Long-term strategy to exploit the Japanese market
With a population of more than 120 million people and growing import demand, Japan continues to be a potential export market for Vietnamese goods. According to the Vietnam Trade Office in Japan, this is a highly competitive market and applies very strict quality standards. Currently, Vietnamese goods only account for about 3.3% of Japan's total import-export turnover, showing that there is still a lot of room for cooperation and market share expansion.
However, to effectively exploit this opportunity, businesses need to constantly improve product quality, promptly grasp consumer trends, and at the same time build a sustainable development strategy associated with expanding international cooperation. This is a decisive factor to help Vietnamese goods maintain their position and gradually increase market share in one of the most demanding but potential markets in the world.
In addition, e-commerce platforms such as Rakuten and Amazon Japan are becoming potential distribution channels, especially in the context of the growing trend of online shopping in Japan. Along with that, businesses need to proactively update policies, actively participate in trade promotion programs and take advantage of professional logistics services to minimize risks and improve efficiency in the process of market penetration.
Understanding Japanese culture and consumer habits will be the "key" for Vietnamese businesses to affirm their position, not only in Japan but also in other international markets.
Recently, at the Vietnam - Japan Economic Cooperation Trade Conference organized by the Vietnam Trade Promotion Agency and the Vietnam Trade Office in Japan (Ministry of Industry and Trade) in coordination with the ASEAN - Japan Center (AJC), Mr. Kunihiko Hirabayashi, Secretary General of the AJC Center, assessed that Vietnam has long been one of the attractive investment destinations for Japanese enterprises, with a young and capable workforce, competitive production costs, strategic location and strong participation in new generation free trade agreements.
Mr. Kunihiko Hirabayashi emphasized that even in times of global instability, Vietnam is still considered a strategic and reliable partner for Japan. Vietnam continues to maintain a prominent position in international trade due to its participation and continuous consolidation of global value chains.
The AJC Secretary General also suggested many promising areas of cooperation between Vietnam and Japan such as green and environmentally friendly products, joint activities to promote the national brands of the two countries to open up opportunities for joint cooperation in developing common brands in a number of product groups with the value of resonance between Vietnam's excellent production capacity and Japan's trust, parallel activities to expand to emerging markets to develop supply chains.

Source: Vitic/ congthuong.vn