VN eyes to become RoK's third largest trade partner

Deputy PM Vuong Dinh Hue (R) shakes hands with Vice Foreign Minister Kun- huyng Ahn, Ha Noi, October 24, 2019 - Photo: VGP/Thanh Chung

Deputy PM Vuong Dinh Hue hosted a reception for Vice Foreign Minister Kun- huyng Ahn who was present in Viet Nam for the  meeting of the Viet Nam-RoK Inter-Governmental Committee for Economic-Commercial and Scientific-Technological Cooperation on October 24. 

Deputy PM Hue said that Viet Nam and the RoK are enjoying numerous cooperative mechanisms. Last month, the two sides held the first dialogue on economic cooperation at deputy prime minister level in Seoul in June. 

The host leader highlighted the significance of the Governmental Committee on economic, commercial and scientific, technological cooperation which offered a good chance for the two sides to review outcomes of implementation of reached agreements and the first dialogue and prepare for upcoming visit of Vietnamese PM Nguyen Xuan Phuc to the RoK this November. 

The host leader proposed the RoK and Vietnamese relevant agencies early summarize important agreements of the meeting and submit the outcomes for approval on the occasion of the upcoming visit. 

Mr. Hue proposed the Governmental Committee advocate breaking proposals to raise trade turnovers and early ensure trade balance as Viet Nam is suffering  heavy import deficit with the RoK. 

In reply, Vice Foreign Minister Kun- huyng Ahn briefed the host leader about the successful outcomes of the latest Governmental Committee meeting. He praised the bilateral ties especially in investment, trade, and service. The Vice Foreign Minister was convinced that Viet Nam would become the third largest trade partner of the RoK (with US$ 100 billion of export turnover) and replace the position of Japan by 2020. 

He also expected by the second dialogue on economic cooperation at deputy prime minister level would take place in Da Nang in 2020./.  

By Kim Loan