Tuesday, May 11 2021


VN, RoK look to $100bln in trade

Update: March, 24/2018 - 09:08
President Trần Đại Quang (r) receives RoK President Moon Jae-in in Hà Nội yesterday. — VNA/VNS Photo Nhan Sáng

HÀ NỘI — Việt Nam and the Republic of Korea (RoK) have agreed to lift two-way trade to US$100 billion by 2020 during talks in Hà Nội yesterday between President Trần Đại Quang and RoK President Moon Jae-in. 

The talks took place right after the welcome ceremony held on the morning of the same day. It is the first-ever State visit to Việt Nam by President Moon from March 22-24. 

Quang affirmed that Việt Nam always highly values developing ties with the RoK and wishes that the country will continue sharing its experience for the sustainable development of the two countries, and for peace, stability, development and prosperity in the region and the world. 

Both sides agreed to maintain annual visits and exchanges, improve the efficiency and frequency of exchange and dialogue mechanisms, extend collaboration between the two nations’ governments, legislatures, Party agencies and localities, and in important fields of diplomacy, national defence, security and legal enforcement. 

Apart from adopting trade balance measures, the two sides vowed to improve the efficiency of partnerships across investment, engineering, energy, labour; consider science-technology a pillar to create new momentum for bilateral links, as well as extend co-operation in culture, education, tourism and people-to-people exchange. 

The Vietnamese leader welcomed Korean investment in large-scale infrastructure, industrial and smart urban areas, and equitisation of State-owned enterprises. 

He asked the RoK to continue stepping up examination on agro-fishery products and chicken and pork-derived processed food, bring Vietnamese products to domestic and global distribution chains, provide Việt Nam with development assistance and preferential credit, and effectively implement the 2016 – 2020 credit frame agreement and financial co-operation deal. 

The host spoke highly of the signing of a Memorandum of Understanding on sending and receiving workers to the RoK under the Employment Permit System programme, and wished that the RoK government will continue assisting Vietnamese nationals living in the country. 

The two leaders vowed to further enhance close support at international forums, and jointly cope with global challenges and non-traditional security issues. They underscored the importance of ensuring peace, security, maritime and overflight safety and freedom in the East Sea (South China Sea) while promoting the settlement of conflicts and disputes in the East Sea via peaceful means in line with international law. 

The Vietnamese President lauded the RoK’s efforts in accelerating inter-Korean dialogue. He reiterated Việt Nam’s consistent policy of supporting denuclearisation in the Korean peninsula and constructive actions to promote dialogues for the sake of peace, security and stability in the Korean peninsula.

He welcomed the regular exchange of visits between Vietnamese and Korean ministries, agencies and localities, and further strengthening of coordination in support and automobile industries towards a more balanced trade. 

The guest promised to assist Việt Nam in human resources development, science-technology, information technology, environment management, agriculture, and extend bonds across transport, energy, infrastructure and smart urban areas. 

The RoK will continue with projects to support Việt Nam – RoK multicultural families, and Vietnamese brides living in the two countries, he said. He also expressed his hope for Việt Nam’s facilitation of Korean investment in North-South highway and Long Thành international airport projects.

Prime Minister Nguyễn Xuân Phúc (r) receives RoK President Moon Jae-in in Hà Nội yesterday. — VNA/VNS Photo Thống Nhất

Trade opportunities

While stressing that Việt Nam and the RoK share a range of cultural and historical similarities as well as strategic interests, Prime Minister Nguyễn Xuân Phúc lauded the RoK’s New Look South Policy for co-operation and peace, under which the RoK considers Việt Nam a key partner. 

Meeting with PM Phúc on the same day, Moon praised the strong development of Việt Nam–RoK relations, particularly in trade, investment and culture.

Expressing his delight at the important achievements in the bilateral relations, particularly after the establishment of the strategic partnership, the President noted that the RoK is now the second-biggest trade partner of Việt Nam, while Việt Nam is the fourth-biggest trade partner of the RoK. In 2017, Việt Nam welcomed the most Korean visitors among Southeast Asian nations. 

Phúc asked the RoK to address difficulties related to quarantine of Vietnamese agricultural products, including star-apple, dragon fruits, rambutan, longan and lychees, and to open its market for Vietnamese pork and chicken in 2018. 

Việt Nam wants the RoK to provide preferential credit packages and effectively implement the financial co-operation agreement worth $12 billion for a number of projects on transport infrastructure, technology transfer and revising the agreement on avoidance of double taxation, and help Việt Nam build the e-government, he said. 

PM Phúc went on to say that Việt Nam expects that the RoK will receive more Vietnamese guest labourers, particularly skilled workers, adding that the two sides need to boost technology transfer in supporting industry, automobiles, mechanic, apparel, electronics and renewable energy sectors.

The PM expressed his hope that the RoK government will boost co-operation with Việt Nam in culture, education, tourism and people-to-people exchanges and allow Vietnamese airlines to increase flights and air routes to RoK localities. He also expressed hope that the South Korean government will simplify visa procedures for Vietnamese visitors and give more government scholarships to Vietnamese students. 

Việt Nam is home to more than half of all RoK firms operating in Southeast Asia, the RoK President said, suggesting the Vietnamese Government facilitate their operations and investment. 

Chairwoman of the National Assembly Nguyễn Thị Kim Ngân meets with RoK President Moon Jae-in in Hà Nội yesterday. — VNA/VNS Photo Trọng Đức

Vietnamese bride issue

Chairwoman of the National Assembly Nguyễn Thị Kim Ngân met with President Moon on the same day during which both sides expressed delight at the progress of the two countries’ ties over the past 25 years.

Ngân urged Moon to ensure the legitimate rights and benefits of Vietnamese citizens living in the RoK, especially brides and second-generation children. 

President Moon, in response, vowed to join Việt Nam’s efforts to strengthen support and protection of Vietnamese brides and the future generations of the two countries. 

He wants the two sides to step up co-operation in language training and soon sign an agreement on social security. — VNS

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