Phan Thị Thu Cuc, deputy director of Khanh Hoa Department of Industry and Trade. Photo: congthuong.vn

Japan is Khanh Hoa's leading Asian export market

According to Phan Thi Thu Cuc, deputy director of Khanh Hoa Department of Industry and Trade, Japan is an important partner and a potential market for import-export businesses in Khanh Hoa province. This is also one of the markets with large export turnover of the province in the Asian region.

Citing data from Khanh Hoa Statistical Office, in 2022, the export turnover of Khanh Hoa enterprises to Japan reached US$152.05 million (accounting for 9.68% of the total export turnover of the province), ranking first in the Asian region.

In the remaining nine months of 2023, goods exports to Japan reached nearly US$111.2 million (accounting for 9.29% of the total export turnover of goods in the province). Khanh Hoa also imported US$35.2 million from Japan.

"The structure of import-export goods between Khanh Hoa and Japan is not competitive but complementary," Cuc said.

Specifically, Khanh Hoa imports from Japan mainly machinery, equipment, and raw materials for production and consumer goods.

As for the products exported to Japan, they are mainly seafood products (accounting for over 72%), followed by agricultural products, garment, wood, and bamboo products.

Khanh Hoa mainly exports seafood products to Japan. Photo: congthuong.vn

According to Khanh Hoa Regional Import-Export Management Office, in 2022 and the first 9 months of 2023, the preferential rate of issuance of Certificates of Origin (C/O) in the province's seafood export to the market In Japan for shrimp products account for about 40%.

The remaining are some other seafood products such as frozen squid and cuttlefish, smoked tuna, fresh seabass, and fish powder.

"With more than 40 export seafood processing facilities, Khanh Hoa enterprises' processed seafood products have gradually met the tastes and needs of Japanese consumers," Phan Thi Thu Cuc said.

Applying FTAs to promote exports

According to the leader of the Department of Industry and Trade of Khanh Hoa province, currently Vietnam and Japan have participated in many free trade agreements (FTAs) such as ASEAN-Japan Comprehensive Economic Partnership (AJCEP), Vietnam-Japan Economic Partnership Agreement (VJEPA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and Regional Comprehensive Economic Partnership (RCEP).

Therefore, businesses in Khanh Hoa province have taken advantage of tax reduction commitments in FTAs that Vietnam and Japan are members of, to export products to the Japanese market.

Enterprises in Khanh Hoa province are constantly improving product quality, ensuring regulatory requirements.

They simultaneously grasp and learn about the business environment of Japanese businesses and the consumer culture of Japanese people to export typical products of the province to the Japanese market.

"To support businesses in the export of products to the Japanese market, the Department of Industry and Trade regularly invites businesses to participate in trade promotion programs organized by the Ministry of Industry and Trade and Khanh Hoa province. The Department guides and supports businesses in implementing rules of origin to better take advantage of tax commitments," Cuc said.

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