Speaker of RoK’s National Assembly to visit VN next week
12:47 | 31/10/2020

VGP – A Republic of Korea (RoK)’s high-ranking National Assembly delegation led by Speaker of the National Assembly Park Byeong-Seug and his spouse will pay an official visit to Viet Nam from October 31-November 4.

Speaker of the Republic of Korea's National Assembly Park Byeong-Seug

The visit is made at the invitation of Vietnamese National Assembly Chairwoman Nguyen Thi Kim Ngan.

In December, 1992, the two nations set up diplomatic ties and both sides upgraded the relationship into strategic cooperative partnership in October, 2009.

Viet Nam and the RoK are members of three free trade agreements (FTAs)-the ASEAN-Korea Free Trade Agreement (AKFTA), the Viet Nam-Korea Free Trade Agreement (VKFTA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The VKFTA is the first bilateral FTA Viet Nam has signed.

Bilateral trade increased from more than US$36.5 billion in 2015 to about US$66.7 billion in 2019, (including Viet Nam’s export value worth US$19.75 billion and the RoK’s export value worth US$47.29 billion), and reached US$53.7 billion in the first 10 months of 2020.

As of September 20, 2020, the RoK took the lead among 138 nations and territories investing in Viet Nam with US$70.14 billion, making up 18.4%, according to the Foreign Investment Agency, under the Ministry of Planning and Investment.  

Earlier, RoK’s Foreign Minister Kang Kyung Wha paid an official visit to Viet Nam from September 17-18.

By Thuy Dung

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