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Vietnam, RoK step up cooperation in trade, industry, energy

Vietnam and the Republic of Korea (RoK) have signed an action plan to complete the target of raising their bilateral trade to 100 billion USD by 2023.
Vietnam, RoK step up cooperation in trade, industry, energy ảnh 1Vietnam and the Republic of Korea (RoK) have signed an action plan to complete the target of raising their bilateral trade to 100 billion USD by 2023. (Photo: VNA)

Hanoi (VNA) – Vietnam and the Republicof Korea (RoK) have signed an action plan to complete the target of raisingtheir bilateral trade to 100 billion USD by 2023.

The signing took place during the 10th meeting of the Vietnam-RoK Joint Committee on Energy, Industry and TradeCooperation on December 10-12.

Under the action plan, the two sides will work toattract more Korean firms to Vietnam, and facilitate Vietnamese enterprises’exports such as garments-textiles, footwear, timber and agro-fishery products,and processed food to the RoK.

Vietnamese Minister of Industry and Trade Tran TuanAnh and Korean Minister of Trade, Industry and Energy Sung Yunmo reachedconsensus on activities to promote technological transfer, improve personnelquality, and intensify investment and trade connectivity, particularly in automobile,mechanics, electronics and garment-textile.

They also agreed to boost Korean investments inliquefied natural gas (LNG) power projects and renewable energy as well ascooperation in scientific research in service of Vietnam’s energy development.

The two sides discussed solutions to expand andfacilitate the bilateral trade ties, push up with market opening for farmproduce, and handle technical issues that affect their import-export.

On this occasion, the ministers also co-chaired the4th Joint Committee on the Implementation of the Vietnam-RoK FreeTrade Agreement (VKFTA), during which they exchanged views on cooperation in customs,product origin, animal and plant quarantine, commercial technical barriers andtrade remedies, among others, thus helping iron out snags and create a legalcorridor for the implementation of the deal./.
VNA
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