During a working session with Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho in Seoul, Permanent Deputy Prime Minister Pham Binh Minh asked the Republic of Korea (RoK) to facilitate Vietnam’s agro-fisheries exports to the country, toward lifting two-way trade to 100 billion USD by 2023 and 150 billion USD by 2030 in a more balanced and sustainable manner.

Permanent Deputy Prime Minister Pham Binh Minh (right) and Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho

Choo, for his part, suggested both countries expand coordination in new spheres such as digitization, climate change response and environment-friendly technology.

The RoK will provide more official development assistance for Vietnam within the framework of the Economic Development Cooperation Fund (EDCF) signed during President Nguyen Xuan Phuc’s ongoing visit, he said.

He wished the Vietnamese Government will make it easier for Korean financial organizations to enter Vietnam, thus expanding Korean investment in the country.

Scene of the working session

The two sides agreed to broaden areas receiving Vietnamese workers and those of Vietnam’s demand, as well as to work with competent agencies to facilitate travel, entry-exit and residence of citizens while propelling cultural and tourism cooperation, and people-to-people exchange.

At the Vietnam-RoK Business Forum held in the morning the same day, President Nguyen Xuan Phuc witnessed the signing of 15 memoranda of understanding on cooperation.

President Nguyen Xuan Phuc hosted representatives of Korean enterprises operating in infrastructure, electronics, finance, transport and education that expressed their interest in Vietnamese market. They vowed to continue investing in Vietnam in the near future.

Statistics from the Vietnamese Ministry of Planning and Investment showed that deals reached during the visit are estimated at nearly 15 billion USD.

Source: VNA