China vietnam economic ties

According to the article, the Vietnameseeconomy shows potential to grow even faster than the RoK’s thanks to its fortunate timing. With China’s economy saturated, many foreign companies, including Koreanbusinesses, are shrinking their dependency on China, creating opportunities for Vietnam. Korean companies and those from other countries are rushing to build factories to replace those in China, where labour costs are no longer cheap, it said. While Samsung Electronics has been making adjustments to its investments in China, it has also been expanding investment in Vietnam. The changing global value chain due to the ongoing US-China trade war is also speeding up investment into Vietnam. As US companies have been relocating their plants from China, recruitment in Vietnam has been step up to meet the growing number of orders, the article said. Korean firms’ expanded operations in Vietnam has also helped to improve social and cultural ties between the … [Read more...] about Korean newspaper highlights Vietnam’s economic potential

19:37 | 12/09/2019 VGP – Viet Nam demands China must immediately end its serious violations and withdraw all its vessels from Viet Nam’s exclusive economic zone. Spokesperson of the Vietnamese Ministry of Foreign Affairs Le Thi Thu Hang at the press briefing in Ha Noi on September 12, 2019.      >>> VN actively joins negotiation process, seriously enforces UNCLOS Le Thi Thu Hang, Spokesperson of the Vietnamese Foreign Ministry made the above statement at a press briefing in Ha Noi on Thursday. China’s survey vessel group Haiyang Dizhi 8 returned to Viet Nam’s exclusive economic zone and they have continued serious violations of Viet Nam’s sovereign rights and jurisdiction over the Southeast Asian country’s waters as defined by the provisions of the 1982 United Nations Convention on the Law of the Sea (UNCLOS). Viet Nam had made its point about the negative effects caused by the activities of the Chinese … [Read more...] about Chinese vessel group’s activities undermine bilateral ties, peace, stability

Vice Chairman of the Ho Chi Minh City People’s Council Pham Duc Hai (R) presents a gift to Vice Chairman of the Standing Committee of the People’s Congress of China’s Jiangsu province Liu Handong at the meeting on September 24 (Photo: VNA) Hai said HCM City has had cooperative relations with eight Chinese localities. It has also paid much attention to enhancing ties with other localities of China through delegation exchanges and joint events like economic forums or tourism workshops to help reinforce people-to-people links. Introducing the operations of the HCM City People’s Council, he expressed his hope that the council and the Jiangsu People’s Congress will have more practical cooperation activities and further share experience in law making and state management, thereby contributing to the healthy and stable development of the Vietnam-China comprehensive strategic cooperative partnership. For his part, Liu said the Jiangsu … [Read more...] about HCM City, Chinese province bolster ties between people-elected bodies

In a recent interview with Vietnam News Agency, Nguyễn Mạnh Đông, head of the maritime affairs department at the Ministry of Foreign Affairs' National Border Committee, reiterated Việt Nam’s consistent policy that all international disputes, including those in the South China Sea, must be resolved by peaceful means as regulated in the UN Charter and the United Nations Convention on the Law of the Sea (UNCLOS 1982).   What do you have to say about the need to maintain a peaceful and stable environment in the South China Sea? First of all, we need to reaffirm that peace, security, stability and cooperative development is the wish of all nations in the world and an inevitable trend of humanity. All nations, no matter their economic development level or scope of influence, must together make efforts – with goodwill and via practical and constructive contributions – to maintain an environment conducive for this trend, in the … [Read more...] about All nations, big or small, must uphold the rule of law in the South China Sea

Illustrative image (Source: Yonhap) Hanoi (VNA) – The Republic of Korea (RoK) is working hard to conclude free trade talks with Malaysia, the Philippines and Indonesia before November when leaders of the Association of Southeast Asian Nations (ASEAN) meet for the ASEAN-RoK Commemorative Summit in the country. According to Yonhap news agency, Asia's fourth-largest economy already has a free trade agreement with ASEAN, but the country is seeking to broaden economic ties with individual members through separate free trade deals amid growing protectionism. The RoK and the ASEAN member states shared the opinion that trade between the two sides should increase amid deepening trade protectionism, Joo Hyung-chul, a government adviser for economic affairs, said at a press briefing. The presidential aide said Seoul is seeking to strike respective deals with the three ASEAN nations before the summit in the southern port city of Busan. Malaysia is the RoK's fourth-largest trading partner … [Read more...] about RoK strives to conclude FTA with three ASEAN members by November