Deputy Prime Minister Vuong Dinh Hue (R) and his Korean counterpart Kim Dong-yeon (Source: VNA)
 
Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue stated that Vietnam attaches importance to economic ties with the Republic of Korea (RoK) during a meeting with his Korean counterpart Kim Dong-yeon in Hanoi on March 23.

Deputy PM underscored the importance of ongoing Vietnam visit by RoK President Moon Jae-in in the context of growing bilateral ties in diverse areas, particularly in economy and trade.

He described the RoK as one of Vietnam’s top economic partners, the top investor and the second largest partner in trade, official development assistance and tourism.

According to him, Vietnam is the fourth largest trade partner globally and the top ASEAN partner of the RoK. A number of Korean enterprises, including Samsung and Lotte, have made important socio-economic contributions to Vietnam.

Hue asked for joint efforts to achieve the 100-billion-USD goal by 2020 in tandem with trade balance and create conditions for both countries’ goods to enter each market.

He expressed support for existing exchange mechanisms and asked the two nations’ agencies to reach consensus on agenda and time.

The host stressed the need to launch a specialised high-level cooperation mechanism amidst protectionism at present. He suggested signing a bilateral treaty to boost economic growth on the back of financial cooperation and other fields.

Speaking highly of the RoK’s experience in increasing financial-banking stability, Hue said Vietnam is restructuring public investment and financial-banking system.

The two governments are responsible for creating the most favourable conditions for enterprises to foster partnership, he said.

Kim, for his part, wished that both nations would have more cooperation opportunities to contribute to their common development.

Hailing the rapid and effective development of bilateral ties since the establishment of diplomatic ties more than 25 years ago, he proposed launching a periodic deputy PM level-meeting mechanism major in economic affairs to further lift bilateral ties./.