This is the first visit to the RoK by a senior leader of Vietnam since the two countries upgraded the bilateral ties to the comprehensive strategic partnership in 2022 and also the first visit of Prime Minister Pham Minh Chinh since he took charge of this position.
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Prime Minister Pham Minh Chinh (right) has a meeting with Korean Prime Minister Han Duck Soo on his visit to attend the 54th Annual Meeting of the World Economic Forum (WEF) in Davos on January 16, 2024. (Photo: Ministry of Foreign Affairs) |
The visit takes place in the context that President Yoon Suk Yeol's administration has continued to strengthen RoK's role and position in the international arena through the “Global Pivotal State” (GPS) policy; implement the Indo-Pacific Strategy and ASEAN-RoK Solidarity Initiative. Attentively, the Vietnam-RoK comprehensive strategic partnership has been growing rapidly and effectively, with extensive cooperation enhanced in all fields, especially after the two countries agreed to upgrade their diplomatic relations in 2022.
The Yoon Suk Yeol administration considers Vietnam an important partner in RoK’s foreign policy and is the center in the implementation of the Indo-Pacific Strategy and RoK-ASEAN Solidarity Initiative in the region. Political trust between the two countries has been further consolidated and exchanges of high-level and all-level delegations have been maintained. The two countries have closely cooperated and supported each other at regional and international forums.
Regarding cooperation in the fields of economics, trade and investment between the two countries, to date, the RoK has continued to hold its position as Vietnam's leading economic partner, as it has poured a total of 86 billion USD in investment into the country (as of April 2024). The RoK is the second largest in development cooperation (ODA), and the third largest in labor and trade. Moreover, the RoK is also the largest source of tourists to Vietnam in 2023.
Cooperation in fields of culture, education, labor, health, and people-to-people exchanges has been strongly promoted. The Vietnamese community in RoK, with a large number of 270,000 people, has received due attention from the RoK government, making active contribution to the development of the relations between the two countries.
The PM’s official visit to RoK aims to implement the foreign policy of the 13th National Party Congress, Resolution No.34-NQ/TW of the Politburo. The visit will contribute to affirming that Vietnam always values and seeks to further accelerate the relations with the RoK, including the realization of the action program on implementing the Vietnam-RoK comprehensive strategic partnership and the implementation of the Politburo’s direction on implementing the project on developing Vietnam-RoK relations until 2030.
It will be an opportunity for both countries to intensify the Vietnam-RoK comprehensive strategic partnership, focusing on such fields as politics, defense, security, economy, labor, culture, tourism, people-to-people exchanges, science and technology, health, education, and more, as well as emerging areas in which the RoK has strength and Vietnam has demand, such as semiconductors, supporting industries, digital transformation, green transition, circular economy, and climate change response; and in labor, cultural industry, and tourism.
The Prime Minister's visit to the RoK is expected to help consolidate political trust and deepen the strategic cooperation between the two countries, making the bilateral cooperation more intensive, substantive, and effective.
Translated by Quynh Oanh