Hanoi (VNA) – Vietnam and the Republic of Korea (RoK)have agreed to lift two-way trade to 100 billion USD by 2020 during talks inHanoi on March 23 between President Tran Dai Quang and RoK President MoonJae-in. 

The talks took place right after the welcome ceremony heldon morning the same day. It is the first-ever State visit to Vietnam byPresident Moon from March 22-24.

President Quang affirmed that Vietnam always highly valuesdeveloping ties with the RoK and wished that the RoK would continue sharing itsexperience for sustainable development of the two countries, and for peace,stability, development and prosperity in the region and the world.

Both sides agreed to maintain annual visits and exchanges,improve the efficiency and frequency of exchange and dialogue mechanisms,extend collaboration between the two nations’ governments, legislatures, Partyagencies and localities, and in important fields of diplomacy, national defence,security and legal enforcement.

Apart from adopting trade balance measures, the two sidesvowed to improve the efficiency of partnership across investment, engineering,energy, labour; consider science-technology a pillar to create new momentum forbilateral links, as well as extend cooperation in culture, education, tourismand people-to-people exchange.

The Vietnamese leader welcomed Korean investment in large-scaleinfrastructure, industrial and smart urban areas, and equitisation of State-ownedenterprises.

He asked the RoK to continue stepping up examination on agro-fisheryproducts and chicken and pork-derived processed food, bring Vietnamese productsto domestic and global distribution chains, provide Vietnam with developmentassistance and preferential credit, and effectively implement the 2016 – 2020credit frame agreement and financial cooperation deal.

The host spoke highly of the signing of a Memorandum ofUnderstanding on sending and receiving workers to the RoK under the EmploymentPermit System programme, and wished that the RoK government will continue assistingVietnamese nationals living in the country.

The two leaders vowed to further enhance close support atinternational forums, and jointly cope with global challenges and non-traditionalsecurity issues. They underscored the importance of ensuring peace, security,maritime and overflight safety and freedom in the East Sea while promoting thesettlement of conflicts and disputes in the East Sea via peaceful means in linewith international law.

The Vietnamese President lauded the RoK’s efforts inaccelerating inter-Korean dialogue and peacefully settling the nuclear issue ofthe Democratic People’s Republic of Korea. He reiterated Vietnam’s consistentpolicy of supporting denuclearisation in the Korean peninsula and constructiveactions to promote dialogues for the sake of peace, security and stability inthe Korean peninsula.

President Moon stated that the RoK attaches importance todeveloping strategic cooperative partnership with Vietnam, considers Vietnam animportant partner in its New Southern Policy.

He welcomed the regular exchange of visits betweenVietnamese and Korean ministries, agencies and localities, and furtherstrengthening of coordination in support and automobile industries towards amore balanced trade.

The guest promised to assist Vietnam in human resourcesdevelopment, science-technology, information technology, environmentmanagement, agriculture, and extend bonds across transport, energy, infrastructureand smart urban areas.

The RoK will continue with projects to support Vietnam – RoKmulticultural families, and Vietnamese brides living in the two countries, hesaid. He also expressed his hope for Vietnam’s facilitation of Koreaninvestment in north-south highway and Long Thanh international airportprojects.

Following the talks, host and guest witnessed thesigning of cooperation agreements and met the media to inform the outcomes ofthe talks.-VNA