A Vietnamese delegation led by Prime Minister Nguyen Tan Dung has left Hanoi for the Republic of Korea (RoK) to attend the G20 Summit on November 11-12 at the invitation of RoK President Lee Myung Pak, who is also Chairman of the G20 Summit this year.

Vietnam contributes to strengthening ASEAN-G20 relationships

Together with G20 members, Vietnam will take the initiative in solving issues related to global economic development, such as the building of G20 mechanisms as well as global management mechanisms for the benefit of the newly-emerging and developing economies. This aims to raise ASEAN and Vietnam’s status in the international community and promote the relations between Vietnam and G20 countries, especially its priotised partners.

PM Dung will take part in all discussions at the Summit and will contribute his ideas on issues related to development, especially sustainable and human resources development, food security and narrowing the development gap. He will highlight the role of newly-emerging and developing economies during the global recovery, the reform of international monetary and financial institutions, the promotion of the Doha rounds, measures to strengthen international coordination and cooperation, and the institutionalisation and participation of important organisations and regions like ASEAN in G20 Summits.

In preparation for the Summit, Vietnam has worked with other ASEAN countries and the Netherlands to reach consensus on the contents of the Summit agenda.

On the occasion, the RoK Ambassador to Vietnam, Park Suk Hwan, expressed his belief that Vietnam’s contribution will help make the Summit a great success.

In the context of global economic recovery, this year’s summit, themed “Shared Growth Beyond Crisis”, is expected to work out measures to ensure sustainable development in the post-crisis period.

Regarding the cooperation between ASEAN and the G20, and RoK in particular, PM Dung, who is also ASEAN Chair,  proposed close coordination between both sides with ASEAN’s participation in the G20 policy-formulation and the G20’s participation in ASEAN Summit.

The ASEAN-RoK cooperation has proved very effective as seen in the establishment of ASEAN-RoK partnership at the 17th ASEAN Summit in Hanoi as well as at multilateral forums, including the G20.

Vietnam-Korean economic cooperation promoted

On the sidelines of the Summit, the PM will work with leaders of some G20 countries and RoK leading corporations. He will also meet with the Secretary General of the UN, Ban Ki-moon, to discuss measures to achieve Millennial Development Goals.

The PM will attend a Vietnam-RoK business talk, which is expected to attract about 40 leading businesses from the two countries.

According to Ambassador Hwan, this is a very important event that will help strengthen economic ties between the two countries.

Businesses will have a chance to propose measures to boost trade and investment cooperation to PM Dung and President Lee Myung Pak, said Hwan.

The RoK has been Vietnam’s fourth biggest trade partner, second biggest exporter, and second biggest importer.

It is also the biggest foreign investor in Vietnam with a total of more than 2,600 investment projects worth US$23 billion, focusing on infrastructure development, telecommunications, heavy industry, real estate, automobile manufacturing, ship building, hotels and restaurants.

The two countries are making every effort to improve the trade balance by increasing bilateral trade by 15 percent each year to reach US$20 billion in 2015. The two Governments have agreed to establish a strategic partnership.

Ambassador Hwan said he is confident that cooperation between the two countries’ businesses will continue to grow and flourish with more RoK investors operating in Vietnam.

Source: VOV