Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Huestated that Vietnam attaches importance to economic ties with the Republic ofKorea (RoK) during a meeting with his Korean counterpart Kim Dong-yeon in Hanoion March 23.

Deputy PM underscored the importance of ongoing Vietnamvisit by RoK President Moon Jae-in in the context of growing bilateral ties indiverse areas, particularly in economy and trade.

He described the RoK as one of Vietnam’s top economicpartners, the top investor and the second largest partner in trade, officialdevelopment assistance and tourism.

According to him, Vietnam is the fourth largest tradepartner globally and the top ASEAN partner of the RoK. A number of Koreanenterprises, including Samsung and Lotte, have made important socio-economiccontributions to Vietnam.

Hue asked for joint efforts to achieve the 100-billion-USDgoal by 2020 in tandem with trade balance and create conditions for bothcountries’ goods to enter each market.

He expressed support for existing exchange mechanisms andasked the two nations’ agencies to reach consensus on agenda and time.

The host stressed the need to launch a specialisedhigh-level cooperation mechanism amidst protectionism at present. He suggestedsigning a bilateral treaty to boost economic growth on the back of financialcooperation and other fields.

Speaking highly of the RoK’s experience in increasingfinancial-banking stability, Hue said Vietnam is restructuring publicinvestment and financial-banking system.

The two governments are responsible for creating the mostfavourable conditions for enterprises to foster partnership, he said.

Kim, for his part, wished that both nations would have morecooperation opportunities to contribute to their common development.

Hailing the rapid and effective development of bilateralties since the establishment of diplomatic ties more than 25 years ago, heproposed launching a periodic deputy PM level-meeting mechanism major ineconomic affairs to further lift bilateral ties./.