TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Japan, Vietnam pledge to support free trade as PM Ishiba visits Hanoi

Ishiba's first trip to Vietnam, and his subsequent visit on Tuesday to the Philippines, mark the latest high-level East Asian meetings amid escalating global uncertainty triggered by the threat of crippling US tariffs.

Reuters
Hanoi, Vietnam
Mon, April 28, 2025 Published on Apr. 28, 2025 Published on 2025-04-28T15:03:00+07:00

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Japan, Vietnam pledge to support free trade as PM Ishiba visits Hanoi Vietnam's President Luong Cuong (right) and Japan's Prime Minister Shigeru Ishiba (left) hold a meeting at the Presidential Palace in Hanoi on April 28, 2025. (AFP/AFP)

J

apan and Vietnam agreed to boost bilateral trade and uphold global rules on the free flow of goods as Japan's Prime Minister Shigeru Ishiba met Vietnamese leaders in Hanoi while both countries engage in talks with Washington to avoid tariffs.

Ishiba's first trip to Vietnam, and his subsequent visit on Tuesday to the Philippines, mark the latest high-level East Asian meetings amid escalating global uncertainty triggered by the threat of crippling US tariffs.

"The world economy is becoming more uncertain, and the impact on the Southeast Asian region is also becoming apparent," Ishiba told reporters on Monday after a meeting with Vietnam's Prime Minister Chinh.

In recent weeks, Vietnam has hosted China's President and top South Korean ministers, while Tokyo has held a trilateral meeting with China and South Korea.

Early in April, the White House slapped "bilateral tariffs" of 46 percent on Vietnam and 24 percent on Japan. Those duties were later paused until July as bilateral talks are underway, but a 10 percent levy applies on all imports into the United States, which is a major market for both countries. 

"We will cooperate to maintain a free and open international order based on the rule of law," Ishiba added in a joint press conference with Chinh where journalists' questions were not allowed.

Prospects

Every Monday

With exclusive interviews and in-depth coverage of the region's most pressing business issues, "Prospects" is the go-to source for staying ahead of the curve in Indonesia's rapidly evolving business landscape.

By registering, you agree with The Jakarta Post's

Thank You

for signing up our newsletter!

Please check your email for your newsletter subscription.

View More Newsletter

Vietnam is a major assembling hub for large Japanese manufacturers, including Honda, Canon and Panasonic, with a total of $78 billion invested in the Southeast Asian country by Japanese firms, according to Vietnam's finance ministry. Japanese banks also hold strategic stakes in top Vietnamese lenders.

"The two countries agreed to uphold the global order of free trade based on international rules," Chinh said, after the two leaders signed four cooperation agreements, including on boosting trade in energy transition products and on research and development on semiconductors.

The content of the agreements was not disclosed and Reuters could not establish whether they entailed any binding or financial commitment.

Vietnam's top leader To Lam urged Japan to increase investment in infrastructure projects after he met Ishiba on Sunday, according to a report on Vietnam government's portal.

Japan has been involved in preliminary studies for the future construction of a high-speed railway connecting Hanoi to the southern business hub of Ho Chi Minh City, which with an estimated cost of $67 billion is Vietnam's most ambitious infrastructure project.

Leaders, however, did not explicitly mention railways among fields of cooperation. Vietnam has said it plans to finance the project largely on its own.

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.