Prime Minister Junichiro Koizumi and his visiting Vietnamese counterpart, Phan Van Khai, agreed Monday on the basics of a bilateral investment treaty that would give each country most- favored nation status.
Khai said Japanese investment is important to Vietnam's economic growth and that he hopes Japanese firms of all sizes will take advantage of the treaty, according to a Foreign Ministry official.
Japan is Vietnam's No. 1 economic partner in terms of investment, trade and official development assistance. The two countries launched official negotiations on the investment treaty in March 2002.