The meeting between PM Pham Minh Chinh and RoK President Yoon Suk Yeol in Hanoi on June 23 (Photo: VNA) The PM told his guest Vietnam's consistent value and desire tofurther advance the new framework of the bilateral relations between the two countrieswith a broader and higher vision and goal.
In response, the RoK President congratulatedVietnam on its development achievements so far and highlighted that the RoK Government highly values the Vietnam-RoK relationship and considers Vietnam a key cooperative partner in the region.
Expressing their joy and satisfaction with substantive progressmade in the bilateral relations, particularly its elevation to a comprehensivestrategic partnership in December last year, the two sides exchanged views onspecific measures to promote bilateral ties in politics, diplomacy, defence,security, economy, trade, investment, development cooperation, labour, scienceand technology, people-to-people exchange, among other areas.
Given slow global economic recovery, the two sides agreed to makejoint efforts to enhance the effectiveness of the nations’ mutually beneficialcooperation and complement each other's strength, with a focus on makingsignificant qualitative strides in economic ties.
PM Chinh proposed that both countries effectively implementthe Vietnam-RoK Free Trade Agreement (VKFTA) and the Regional ComprehensiveEconomic Partnership (RCEP), thereby achieving the goal of raising theirbilateral trade turnover to 100 billion USD in the near future and 150billion USD by 2030 in a balanced and sustainable manner.
He also suggested that the RoK open its market further forVietnam's key products such as agro-fishery goods and seasonal fruits; helpVietnamese enterprises join more deeply in the global supply chains ofKorean businesses; and encourage Korean companies to expand their investmentscale in Vietnam, particularly in priority areas such as infrastructure development,high-tech electronic manufacturing, semiconductors, renewable energy, and smartcities.
Chinh welcomed Korean businesses to invest in keynational projects and BOT (Build-Operate-Transfer) projects involving thebuilding of thermal power plants and liquefied natural gas (LNG) facilities inVietnam.
He proposed the RoK transfer technology for Vietnam, create morefavourable conditions for Vietnamese enterprises to invest in the RoK, and consider Vietnam a strategic destination for establishing Korean research anddevelopment (R&D) centres.
The PM underscored his commitment toaddressing difficulties and obstacles facing Korean investors in Vietnam. Healso suggested expanding exchanges between the Vietnamese and Korean youth andstrengthening the bilateral people-to-people and locality-to-locality collaboration.
PM Pham Minh Chinh (R) and President of the RoK Yoon Suk Yeol in Hanoi on June 24 (Photo: VNA) He hoped the Vietnamese Government will continue supportingand resolving difficulties for Korean investors, particularly concerning thesectors of finance-banking, infrastructure, and smart city building. Yoon alsolooked for Vietnam’s further assistance for RoK citizens as well as for theexpansion of Korean educational institutions in Vietnam.
The RoK will provide favourable conditions for Vietnamesestudents to study advanced technology and modern science and technology thecountry, he affirmed.
Given rapidly changing, complex, and unpredictable globaland regional situations, both sides agree to make joint efforts to enhance theeffectiveness of collaboration and mutually support each other regardinginternational and regional issues of mutual concern.
They said they will continue to cooperate closely within theASEAN-RoK and Mekong-RoK cooperation frameworks, and coordinate for Vietnam tofulfill its role as the coordinating country for ASEAN-RoK relations for the2021-2024 term.
They shared a common vision of ensuring security, safety,freedom of navigation, and aviation in the East Sea, maintaining a peaceful andstable environment and legal order, and resolving disputes at sea throughpeaceful means, ensuring the legitimate rights and interests of countries inaccordance with international law, including the 1982 United Nations Conventionon the Law of the Sea (UNCLOS)./.
VNA
