Japan and Vietnam has signed a cooperation agreement on logistics, according to the Vietnam News Agency.
Under the agreement, both sides plan to exchange information, solutions and policies related to technical logistics standards, assistance and technology. Issues related to the support of logistics enterprises, delegation exchanges and the sharing of mutual experiences will also be brought forward.
A study by the Japan External Trade Organisation found that high costs and pro-longed transport times were among some of the main logistical shortcomings in ASEAN and Vietnam. Transport and customs clearance regulations contributed 30 per cent to the cost of logistical services while tardy administration procedures contributed between 30 and 40 per cent.