Updated  
January, 22 2014 09:05:00

Viet Nam, RoK speed up free trade talks

Deputy PM Nguyen Xuan Phuc (R)  meets Speaker of the RoK's National Assembly Kang Chang-hee.— VNA/VNS Photo

SEOUL (VNS)— Viet Nam and the Republic of Korea (RoK) will speed their negotiations for the signing of a free trade agreement (FTA) in 2014.

Completing the talks soon was agreed upon by visiting Deputy Prime Minister Nguyen Xuan Phuc and his RoK counterpart, Hyun Oh-Seok, who is also the RoK Minister of Strategy and Finance, during their talks in Seoul yesterday.

Both sides voiced their pleasure at the growth of the bilateral friendship and cooperation, particularly since the establishment of their strategic cooperative partnership in 2009.

They also agreed on major directions and measures, to bring the partnership to a new height for the two peoples' interests and to assure regional peace, stability, collaboration and development.

They also agreed to increase high-ranking visits to enhance mutual trust and understanding, as well as strategic dialogues and result-oriented cooperation in diplomacy, defence and security.

Both sides agreed to intensify their economic and trade relations, working to push two-way trade turnover to US$70 billion by 2020, and devising practical measures to reach a trade balance.

RoK officials also said they will consider implementing optimal conditions for Vietnamese imports into the country and to reinforce cooperation in high technology and support industries.

Also, Phuc affirmed that the Vietnamese Government would spend the RoK's $100 million low-interest loan on expanding e-governance.

He also asked the RoK Government to continue its support to key cooperation projects between the two countries, including the Viet Nam-Korea Institute of Science and Technology, the Viet Nam Happiness Programme, and a national training centre for counter terrorism.

Hyun Oh-Seok said the RoK considers Viet Nam to be an important partner in the region and in its official development assistance (ODA) provision policy. He pledged it would further ODA supplies to the Southeast Asian country, especially in green growth, infrastructure building and human resource training.

At the talks, the two sides agreed to exert efforts to boost people-to-people exchanges, and protect the legitimate rights of their citizens residing in each country.

Also, Phuc praised the signing of a memorandum of understanding on labour cooperation between the RoK Ministry of Employment and Labour and the Vietnamese Ministry of Labour, Invalids and Social Affairs.

He also asked the host side to soon provide quotas for Vietnamese workers to seek additional employment in the RoK.

On the same day, Phuc met with Speaker of the RoK's National Assembly Kang Chang-Hee.—VNS

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