Vietnam, RoK target 100 billion USD in two-way trade in 2023
Hanoi (VNA) – Vietnam and the Republic of Korea (RoK) agreed to lift
two-way trade to 100 billion USD right in 2023 and 150 billion USD by 2030 at the
second economic cooperation dialogue at the deputy prime ministerial level in
Hanoi on March 10.
The event was
co-chaired by Vietnamese Deputy Prime Minister Le Minh Khai and his Korean counterpart Choo
Kyung-ho.
The two sides discussed
and reached consensus on cooperation contents in trade, energy and
infrastructure, development cooperation, information-technology and investment, health care
and labour.
They agreed to deal
with difficulties faced by enterprises in each country and draw more Korean
investments in Vietnam’s priority areas such as information technology and
communications, LNG-fueled power, infrastructure, smart urban
development, distribution and logistics.
The two sides vowed to enhance effective
cooperation in official development assistance through efficient utilisation of
non-refundable aid projects and the RoK’s ODA loans through the Economic
Development Cooperation Fund (EDCF) and the Economic Development Promotion Facility
(EDPF).
Khai asked Vietnam’s relevant agencies to
work 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 on
quarantine of farm produce, animal husbandry and
expand coordination in health care.
The Korean Government will make the best of large-scale infrastructure projects for Vietnam's development and encourage Korean firms
to take part in, he said.
Both
sides need to reshuffle the global supply chain and perform sustainable support
policies, and continue extending collaboration in raw materials, Choo said.
The RoK wants to partner with Vietnam and share its experience and understanding of advanced technology, information technology, and digital transformation, he said, adding that the RoK also wishes to build eco-friendly infrastructure in Vietnam and boost bilateral cooperation in clean energy, contributing to Vietnam’s carbon neutrality goal.
He
hoped for Khai and the Vietnamese Government’s special support in
administrative reform to draw more Korean enterprises.
At present, the RoK
remains the top foreign investor in Vietnam with combined registered capital of 81.3 billion
USD, 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 last
year.
At the event, Vietnamese Deputy Minister of Finance Vo Thanh Hung and Vice Chairman of the Export-Import Bank of Korea Kim Tae-soo signed an agreement to finance the project on upgrading the Hoa Duyet - Thanh Luyen section of the Hanoi - Ho Chi Minh City railway route./.