Vietnam, RoK issue joint press release

A joint press release has been issued on the occasion of the official visit to the Republic of Korea (RoK) from June 30 to July 3 by Vietnamese Prime Minister Pham Minh Chinh and his spouse at the invitation of Korean PM Han Duck-soo.

As part of the visit, PM Chinh held talks with his Korean counterpart Han Duck-soo, during which they shared a view that the Vietnam-RoK relationship is now at its best since the establishment of diplomatic relations in 1992.

Both leaders reaffirmed their commitment to foster cooperation across a wide range of areas, aligning with the framework of the Vietnam-RoK comprehensive strategic partnership.

Economic cooperation remains a cornerstone of the relationship. The two leaders pledged to work toward boosting bilateral trade turnover to 100 billion USD by 2025, coinciding with the 10th anniversary of the Vietnam-RoK Free Trade Agreement (VKFTA), and reaching 150 billion USD by 2030 in a balanced and sustainable direction.

To realise this target, Vietnam and the RoK agreed to collaborate closely in effectively implementing existing economic cooperation mechanisms such as the VKFTA, the Regional Comprehensive Economic Partnership (RCEP), and the Indo-Pacific Economic Framework (IPEF). The early signing of a Mutual Recognition Agreement (MRA) for Authorised Economic Operator (AEO) programme in 2024 was also highlighted.

Beyond trade, the two leaders concurred on the importance of fostering collaboration in science and technology, particularly in high-tech areas, research and development (R&D) and technology transfer.

People-to-people exchanges are also set to receive a boost. The two leaders expressed a shared vision of facilitating exchanges in culture, education, tourism and other areas in a bid to raise mutual understanding and connections between the Vietnamese and Korean people.

The joint press release further underlined a commitment to close collaboration and mutual support at international and regional forums.

The two PMs witnessed the exchange of nine cooperation documents signed between ministries and agencies of both countries. These documents cover different fields such as development cooperation, trade and investment, small and medium-sized enterprises (SMEs), innovation and entrepreneurship, environment, competition and consumer protection, and education.

Both leaders expressed their satisfaction that the visit has significantly contributed to deepening the Vietnam-RoK comprehensive strategic partnership, benefiting peace, stability and development in the region and the world as well./.