Viet Nam and the Republic of Korea vowed to raise the two-way trade value to US$100 billion by 2020.
Deputy PM Truong Hoa Binh pays courtesy call on Korean PM Lee Nak-yon. Photo: VGP
Permanent Deputy PM Truong Hoa Binh paid courtesy call on Korean PM Lee Nak-yon on Tuesday as part of his on-going visit to Northeast Asian country.
Deputy PM Binh extended thanks to the Korean Government for offering US$1 million to help the central provinces to overcome consequences caused by recent storm.
The two sides expressed their pleasure at the extensive and intensive development of the Viet Nam-RoK relations over the past years, discussing ways to further strengthen political trust and expand bilateral cooperation.
Both sides agreed to effectively implement their free trade agreement in order to raise the two-way trade volume to US$100 billion by 2020 while enhancing cooperation in culture, education, tourism, labor and people-to-people exchanges.
The two leaders also agreed to continue coordination at multilateral forums.
Deputy PM Binh welcomed Korean investors to pour capital in such areas as high technologies, environmental protection, processing and manufacturing, and infrastructure among others in Viet Nam.
He also welcomed more investments from the RoK to spur the restructuring of State-owned enterprises, commercial banks, and special administrative-economic units.
He suggested the Korean Government facilitate import of Vietnamese farm produce, especially rice, fresh fruits like star apple, rambutan, longan, and litchi and support Viet Nam to join global supply chain.
Deputy PM Binh also suggested the RoK create favorable conditions for the Vietnamese community to live and work in the country and sign an agreement on civil assistance.
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