Deputy Prime Minister Le Minh Khai (R) and his Korean counterpart Choo Kyung-ho. (Photo: VNA) Hanoi (VNA) – Vietnam and the Republic of Korea (RoK) agreed to lifttwo-way trade to 100 billion USD right in 2023 and 150 billion USD by 2030 at thesecond economic cooperation dialogue at the deputy prime ministerial level inHanoi on March 10.
The event wasco-chaired by Vietnamese Deputy Prime Minister Le Minh Khai and his Korean counterpart ChooKyung-ho.
The two sides discussedand reached consensus on cooperation contents in trade, energy andinfrastructure, development cooperation, information-technology and investment, health careand labour.
They agreed to dealwith difficulties faced by enterprises in each country and draw more Koreaninvestments in Vietnam’s priority areas such as information technology andcommunications, LNG-fueled power, infrastructure, smart urbandevelopment, distribution and logistics.
The two sides vowed to enhance effectivecooperation in official development assistance through efficient utilisation ofnon-refundable aid projects and the RoK’s ODA loans through the EconomicDevelopment Cooperation Fund (EDCF) and the Economic Development Promotion Facility(EDPF).
Khai asked Vietnam’s relevant agencies towork closely with the RoK’s counterparts to build an action plan and realise the outcomes of the dialogue.
Choo, for his part,said the RoK will continue working closely with Vietnam to step up exchanges onquarantine of farm produce, animal husbandry andexpand coordination in health care.
The Korean Government will make the best of large-scale infrastructure projects for Vietnam's development and encourage Korean firmsto take part in, he said.
Bothsides need to reshuffle the global supply chain and perform sustainable supportpolicies, and continue extending collaboration in raw materials, Choo said.
The RoK wants to partner with Vietnam andshare its experience and understanding of advanced technology, informationtechnology, and digital transformation, he said, adding that the RoK also wishes tobuild eco-friendly infrastructure in Vietnam and boost bilateral cooperation inclean energy, contributing to Vietnam’s carbon neutrality goal.
Hehoped for Khai and the Vietnamese Government’s special support inadministrative reform to draw more Korean enterprises.
At present, the RoKremains the top foreign investor in Vietnam with combined registered capital of 81.3 billionUSD, comes second in development cooperation (3.75 billion USD), tourism and labour cooperation, and ranks third in trade cooperation with two-way trade value reaching 86.4 billion USD lastyear.
At the event, Vietnamese Deputy Minister of Finance Vo Thanh Hung and Vice Chairman of the Export-Import Bank of Korea Kim Tae-soosigned an agreement to finance the project on upgrading the Hoa Duyet - ThanhLuyen section of the Hanoi - Ho Chi Minh City railway route./.
