Joint Press Release on the Official Visit of Vietnamese PM Chính to RoK

Seoul, The Gulf Observer: A joint press release has been issued on the occasion of the official visit to the Republic of Korea (RoK) from June 30 to July 3 by Vietnamese Prime Minister Phạm Minh Chính and his spouse, at the invitation of Korean Prime Minister Han Duck-soo.

During the visit, Prime Minister Chính held talks with his Korean counterpart Han Duck-soo. Both leaders shared the view that the Vietnam-RoK relationship is now at its best since the establishment of diplomatic relations in 1992. They reaffirmed their commitment to fostering cooperation across a wide range of areas, aligning with the framework of the Việt Nam-RoK comprehensive strategic partnership.

Economic cooperation remains a cornerstone of the relationship. The two leaders pledged to work towards boosting bilateral trade turnover to USD 100 billion by 2025, coinciding with the 10th anniversary of the Việt Nam-RoK Free Trade Agreement (VKFTA), and reaching USD 150 billion by 2030 in a balanced and sustainable manner.

To achieve this target, Việt Nam and the RoK agreed to collaborate closely in effectively implementing existing economic cooperation mechanisms such as the VKFTA, the Regional Comprehensive Economic Partnership (RCEP), and the Indo-Pacific Economic Framework (IPEF). The early signing of a Mutual Recognition Agreement (MRA) for the Authorised Economic Operator (AEO) programme in 2024 was also highlighted.

Beyond trade, the two leaders emphasized the importance of fostering collaboration in science and technology, particularly in high-tech areas, research and development (R&D), and technology transfer.

People-to-people exchanges are also set to receive a boost. The leaders expressed a shared vision of facilitating exchanges in culture, education, tourism, and other areas to enhance mutual understanding and connections between the Vietnamese and Korean people.

The joint press release further underlined a commitment to close collaboration and mutual support at international and regional forums.

The two Prime Ministers witnessed the exchange of nine cooperation documents signed between ministries and agencies of both countries. These documents cover various fields, including development cooperation, trade and investment, small and medium-sized enterprises (SMEs), innovation and entrepreneurship, environment, competition and consumer protection, and education.

Both leaders expressed their satisfaction that the visit has significantly contributed to deepening the Việt Nam-RoK comprehensive strategic partnership, benefiting peace, stability, and development in the region and the world.