Vietnam, RoK make efforts to raise bilateral trade to USD100 billion

Thursday, 14/07/2022 06:03
Vietnamese Minister of Foreign Affairs Bui Thanh Son and his Korean counterpart Park Jin have agreed to implement measures to fulfill the goal of raising bilateral trade to USD100 billion by 2023 and USD150 billion by 2030 in a balanced and sustainable manner, increasing the volume of Vietnam's exports to the Republic of Korea (RoK).
 
At the talks (Photo: Ministry of Foreign Affairs)

They made the statement during talks over the phone on July 13 as the two nations are celebrating the 30th anniversary of their diplomatic relations (December 22, 1992-2022).

During the talks, the two ministers were delighted with the outstanding development of the two countries' relations; agreed to coordinate in effectively implementing the exchange of delegations and high-level contacts in various flexible forms, as well as activities to celebrate the 30th anniversary of diplomatic relations.

They also agreed to attach importance to promoting substantive cooperation in the field of defense and security, and bilateral and multilateral cooperation mechanisms; encourage Korean enterprises to increase investment in spearhead industrial fields in parallel with technology transfer to Vietnam; continue close cooperation in the field of science and technology, including the implementation of the second phase of the Vietnam – Korea Institute of Science and Technology (VKIST) project; and strengthen cooperation in health, especially in disease prevention in general, including the COVID-19 pandemic.

Minister Bui Thanh Son affirmed his willingness to coordinate with the Korean Ministry of Foreign Affairs to bring the two countries' strategic cooperative partnership to a new height; suggested that the Korean Government continue to maintain and increase large loans with preferential conditions for Vietnam; and increase interest and support for Vietnamese citizens living, studying and working in the RoK.

Minister Park Jin highly appreciated the achievements of COVID-19 prevention and control, Vietnam's economic and social development, and its increasingly enhanced international position; affirming that the RoK considers Vietnam a leading important partner in the region and wishes to promote the two countries' relations to develop more strongly in the coming time; suggested that the Vietnamese Government continue to create favorable conditions for Korean businesses, especially supporting Korean financial institutions and banks to expand investment in Vietnam.

The two ministers agreed to continue to closely cooperate and support each other in solving international and regional issues of mutual concern; and to coordinate to help Vietnam successfully undertake the role of coordinator for ASEAN-RoK relations for 2021-2024. They also agreed to maintain peace, stability, security, safety, cooperation and development in the East Sea; and continue to support the building of a practical and effective Code of Conduct (COC) that respects the interests of relevant stakeholders in the East Sea in line with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Foreign Minister Bui Thanh Son took this occasion to invite the Korean minister to visit Vietnam at an appropriate time in the future and thanked Park for his invitation to make a trip to the RoK./.

Compiled by BTA

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