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

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Tan Son Nhat Airport on verge of overloading 1    Tan Son Nhat Airport on verge of overloading

HCM City's Tan Son Nhat Airport will be stretched beyond capacity in the next two years, making construction of the new Long Thanh airport in Dong Nai Province more urgent than ever, experts warn.

BIDV teams up with Japanese banks to facilitate investment BIDV teams up with Japanese banks to facilitate investment

The Bank for Investment and Development of Viet Nam (BIDV) has signed a memorandum of understanding (MoU) with two Japanese banks, namely Minato Bank and the Bank of Yokohama (BOY).

Capital to host biotechnology fair Capital to host biotechnology fair

A three-day fair on technology and biological equipment will take place in the capital on October 21 organised by the National Agency for Science and Information Technology.

Rhino horn demand falls after campaign Rhino horn demand falls after campaign

Vietnamese demand for rhinoceros horns decreased by 38 per cent within a year after a campaign was launched against the practice.

My Lai survivor writes book My Lai survivor writes book

Pham Thanh Cong, 57, was one of only a dozen survivors of 1968's infamous My Lai massacre. More than four decades later, he has written a book about the mass murder, in which American soldiers killed 504 unarmed civilians.