Vietnam, RoK resolved to bring bilateral trade to 150 billion USD by 2030

(VOVWORLD) - The Prime Ministers of Vietnam and the Republic of Korea on Tuesday agreed on specific measures to bring trade between the two countries to 100 billion USD by 2023 and 150 billion USD by 2030. 
Vietnam, RoK resolved to bring bilateral trade to 150 billion USD by 2030 - ảnh 1PM Pham Minh Chinh (R) holds a phone talk with his Korean counterpart Han Duck-soo, July 5, 2022. (Photo: VNA)

During a phone talk, Prime Minister Pham Minh Chinh and his Korean counterpart Han Duck-soo saw eye to eye on the need to implement the outcomes of the online talks between Party General Secretary Nguyen Phu Trong and Korean President Yoon Suk-yeol on June 8, continue close coordination in organizing activities marking the 30th founding anniversary of diplomatic ties this year, and effectively implement bilateral and multilateral cooperation mechanisms such as the Vietnam-Korea Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP).

Vietnam and the RoK will handle trade imbalances and facilitate the penetration of Vietnamese goods like agricultural and aquatic products into the Korean market, and encourage Korean businesses to expand investment in Vietnam, prioritizing digital technology, electronics, renewable energy, and infrastructure development.

Vietnam always views the RoK as an important, long-term strategic partner, and wishes to work together with the RoK to deepen the relationship, said PM Chinh.

PM Han congratulated Vietnam on the achievements it has recorded over the past time, particularly in pandemic containment and economic growth, noting that the RoK considers Vietnam a leading important partner and wishes to work with Vietnam to enhance bilateral relations sustainably.

The two PMs shared the common vision on maintaining peace and stability, ensuring security, safety and freedom of navigation in the East Sea (known internationally as the South China Sea), settling disputes at sea by peaceful measures, and ensuring the rights and legitimate interests of countries in line with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

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