Vietnamese and RoK scientists and managers gathered at a seminar in Hanoi on August 25 to discuss the Vietnam-RoK economic cooperation and prospects until 2020.

The event was jointly held by the National University of Economics, the Embassy of the Republic of Korea (RoK) in Vietnam , the Korea Foundation and the Korea Institute for Industrial Economics and Trade.

According to the participants, among Vietnam ’s international relations, the relationship with the RoK is emerging as a promising bilateral cooperation, with two-way trade in 2010 being 86 times higher than that of 1990.

The Korea Foundation emphasised the need for a further cooperation between the two countries in the coming time with the involvement of their people.

The two countries will set up the Vietnam-RoK Research Fund and the Global Electronics School , he said.

To reduce trade deficit, Vietnamese businesses should improve the quality of their products exported to the RoK, said Prof. Dr. Nguyen Van Nam, Rector of the Hanoi University of Economics.

The participants pointed out bright prospects for the Vietnam-RoK ties as the two countries have raised their normal diplomatic relations to a comprehensive partnership and then a strategic partnership in a short time.

According to the Ministry of Planning and Investment, the RoK has so far operated 2, 810 projects in Vietnam with a total investment of nearly 23 billion USD, becoming the second largest foreign investor in terms of capital and the largest holder of FDI projects in the Southeast Asian country./.