Tuesday, February 25 2020


Việt Nam, RoK agree to $100b trade goal by 2020

Update: June, 22/2019 - 00:43
Vietnamese Deputy Prime Minister Vương Đình Huệ (left) held talks with Republic of Korea's Prime Minister Lee Nak-yeon as part of the former's visit to the country. — VNA/VNS Photo Mạnh Hùng

SEOUL — Visiting Deputy Prime Minister Vương Đình Huệ and host Prime Minister of the Republic of Korea Lee Nak-yeon yesterday agreed to try to lift two-way trade to US$100 billion by 2020 from $65 billion in 2018, together with reducing Việt Nam’s trade deficit.

During a meeting in Seoul, the two vowed to continue further enhancing bilateral ties in the near future via facilitating high-level visits, partnering in promising fields, expanding people-to-people exchange and working closely together on regional and global issues.

The Deputy PM asked the RoK side to actively consider specific measures to narrow Viet Nam’s trade deficit, make it easier for Việt Nam’s farm produce and aquatic products to enter the RoK, improve the competitiveness of Vietnamese products and bring them to the RoK’s global value chain, and expand joint work in labour and tourism.

He informed his guest that the Vietnamese Government has approved the opening of the RoK Consulate General in the central city of Đà Nẵng, and wished that the RoK government would continue assisting the Vietnamese community in the RoK.

Thanking the RoK for supporting Việt Nam’s run for a non-permanent seat on the United Nations Security Council, the Deputy PM urged the country to partner with Viet Nam to help fulfill its tasks in the role for the 2020-2021 tenure as well as in its capacity as ASEAN Chair in 2020.

Việt Nam consistently supports peace and stability on the Korean Peninsula and wants the RoK to back ASEAN’s stance and central role in the region, he said.

The RoK Government leader pledged to consider Việt Nam’s suggestion on farm produce export to the RoK as well as preferential loans.

PM Lee affirmed attention to the Vietnamese community living there and promised to mitigate risks faced by Vietnamese brides.

Wishing the first economic dialogue at the deputy prime minister level is a success, he vowed that the RoK government will direct activities to realise commitments reached at the meeting.

During a meeting with Speaker of the RoK’s National Assembly Moon Hee-sang, Huệ asked the host and the RoK legislature to consider specific ways to reduce Việt Nam’s trade deficit, and encourage RoK firms to expand investment in Việt Nam.

Moon said the RoK’s political parties treasure the strengthening of extensive cooperation with Việt Nam, a key and strategic nation in the government’s New Southern Policy.

The RoK legislature wants to expand ties with the Vietnamese side and supports policies on developing bilateral ties, he said.

They expressed their belief that with geographical proximity, cultural similarities, and communities of over 210,000 Vietnamese people in the RoK and more than 160,000 RoK people in Việt Nam, bilateral strategic cooperative partnership will further grow in the near future. — VNS



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