Prime Minister Nguyen Xuan Phuc (R) and Speaker of the RoK National Assembly Park Byeong-Seug (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has suggested lifting
two-way trade between Vietnam and the Republic of Korea (RoK) to 100 billion
USD from 68 billion USD in 2019.
During a reception for visiting Speaker of the RoK National
Assembly Park Byeong-Seug on November 2, the PM wished that the RoK would buy
more Vietnamese products, especially farm produce and consumer goods.
The Vietnamese PM welcomed the visit by the RoK leader since
the COVID-19 outbreak and expressed his belief that the visit will be a
success, contributing to further deepening bilateral strategic cooperative
He affirmed that Vietnam consistently follows the foreign policy of independence, self-reliance, multilateralisation and diversification
of ties, integrating deeper into the world economy, and wishes to further expand its strategic cooperative partnership with the RoK.
According to him, Vietnam is a key partner in the RoK Government’s
New Southern Policy while the RoK continues to be Vietnam’s partner of top
significance, the largest investor and the second largest trade partner and supplier
of official development assistance (ODA), and the leading recipient of Vietnamese
He attributed such results to the support of the top RoK legislator, parliament committees and parliamentarians.
Park, for his part, congratulated Vietnam on achieving the dual
goal of fighting the pandemic and achieving positive economic growth.
As the two countries will celebrate the 30th anniversary of bilateral diplomatic ties in 2022, he said it is a good time to
upgrade bilateral ties to a comprehensive strategic cooperative partnership.
The host expressed his hope that the RoK NA Speaker and his parliament will continue encouraging Korean firms to enhance investment in
The Vietnamese Government is ready to create favourable
conditions for RoK firms to expand business operations and facilitate
Vietnamese enterprises’ access to technological transfer and global supply
chains by Korean corporations, he said.
the further promotion of ODA, the PM hoped that the RoK will continue to
support the removal of binding conditions for preferential loans and expand
non-refundable aid to Vietnam.
Appreciating the effectiveness of current labour cooperation models, especially
seasonal labour between the two countries' localities, PM Phuc asked Speaker
Park Byeong-seug and his National Assembly to actively urge the RoK
Government to create favourable conditions for new Vietnamese workers to come to
the RoK and find solutions to facilitate the granting of visas to Vietnamese
short-term labourers so that they soon come to work in the country.
He proposed the top RoK legislator to urge the Ministry of Employment
and Labour to soon extend the Memorandum of Understanding on sending and
He also hoped that the RoK National Assembly and authorities will support
Vietnamese brides to integrate well into the Korean society and create
conditions for Vietnamese-Korean multicultural families to stabilise their
The two sides need to strengthen coordination on multilateral forums,
especially within the framework of the United Nations, the Association of
Southeast Asian Nations (ASEAN), the Asia-Pacific Economic Cooperation (APEC), and the Mekong-RoK Cooperation, as well as
inter-parliamentary forums such as the Inter-Parliamentary Union (IPU), the
ASEAN Inter-Parliamentary Assembly (AIPA) and the Asia-Pacific Parliamentary
Forum (APPF), he said.
PM Phuc asked the RoK to support Vietnam in fulfilling its role as ASEAN Chair
in 2020 and as a coordinator of ASEAN-RoK relations for 2021-2024; and continue
backing the viewpoints of Vietnam and ASEAN on the East Sea issue.
Agreeing with the host leader’s opinion, Park affirmed that the RoK considers
Vietnam a key partner in the New Southern Policy and one of the most important
partners in ASEAN.
He said that the RoK side will continue to share experience, transfer
technology, and create conditions for Vietnamese enterprises to participate in
global value chains of Korean enterprises.
The RoK National Assembly will urge the Korean Government to pay attention to helping
Vietnamese agricultural products enter the local market, while promoting ODA projects
and concessional loans for Vietnam.
The legislature will propose the RoK Government soon extend the Memorandum of
Understanding on sending and receiving Vietnamese labourers, he said, adding
that it also pays heed to ensuring the best conditions for the Vietnamese
community to live safely and stably in the RoK.
stated that his country agreed with Vietnam's stance and position on the East Sea
issue, including ensuring security, safety, freedom of navigation, and respect
for international law.
Expressing thanks to the Vietnamese Government for facilitating Korean
personnel to enter Vietnam amid the COVID-19 pandemic, he suggested that
Vietnam soon build a fast entry process for citizens of the two countries. He
also hoped that some international routes between the two countries will be
He added that some Korean banks are looking forward to receiving licences to do
business in Vietnam so that they can support Korean businesses here./.