Prime Minister hopes for improved bilateral relations between Vietnam and South Korea

Vietnam and South Korea should promote exchange activities between high-ranking officials to strengthen the bilateral relationship in all fields, Prime Minister Pham Minh Chinh said on October 18.

Prime Minister Pham Minh Chinh (right) receives South Korea's Minister of Foreign Affairs Park Jin on October 18. Source: Vietnam News Agency

Speaking at the meeting with South Korea's Minister of Foreign Affairs Park Jin, PM Chinh appreciated that the Vietnam-South Korea relationship had seen substantial developments in the past 30 years.

The PM said that the visit of South Korean foreign affairs minister Park Jin to Vietnam this time is significant as the two nations are heading towards celebrating the 30th anniversary of their diplomatic relationship.

"Further strengthening and developing the relationship between the two countries is the wish of the Vietnamese government and people," said PM Chinh.

Economic relation is a crucial component of the bilateral relation, PM Chinh said, adding the two nations should enhance cooperation to increase two-way trade turnover to US$100 billion in 2023 and $150 billion in 2030.

"Vietnam always encourages South Korean companies to invest and expand their operations in the country, in digital technology, renewable energy, infrastructure development, construction of industrial parks, and development of hi-tech agriculture," PM Chinh said.

"The Vietnamese Government would do its best to facilitate foreign enterprises, including those from South Korea," he said.

Prime Minister Chinh also called on the South Korean government to consider Vietnam as one of its leading partners in improving labor exchange, supporting Vietnam in enhancing the quality of vocational training, and raising the conditions of life and work of Vietnamese employees.

He said the two sides should boost their relations in digital transformation, green transition, circular economy, healthcare, education and training, and social and cultural exchanges.

In response, the South Korean minister thanked Prime Minister Chinh for the meeting, saying that the South Korean government sees Vietnam as the core of its policies towards the ASEAN, Asia-Pacific and Indian Ocean regions.

South Korea is looking forwards to strengthening the relationship with Vietnam in all fields of interest, he said while agreeing with all suggestions made by PM Chinh at the meeting.

Minister Park also thanked the Vietnamese Government and Prime Minister for supporting the South Korean people and businesses in resolving their difficulties.

PM Chinh and minister Park agreed that the two nations would further develop their cooperation in climate change issues, security and safety of marine transportation in the region, and assist in settlement of disputes through peaceful methods.

$100 billion worth of trade turnover

At talks with his South Korean counterpart Park Jin on October 18, Vietnam's Minister of Foreign Affairs Bui Thanh Son stressed the two nations should strive to boost bilateral trade turnover to $100 billion next year and $150 billion by the end of 2030.

Vietnamese Minister of Foreign Affairs Bui Thanh Son (right) greets his South Korean counterpart Park Jin on October 18. Photo: The Hanoi Times

To achieve such results, Vietnam and South Korea should exploit the advantages of bilateral and multilateral trade agreements such as the Vietnam-Korea Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP). Son asked South Korea to consider increasing imports from Vietnam.

"The two nations have done well in maintaining the growth of bilateral trade relations, especially when the people and enterprises have suffered from the Covid-19 pandemic," minister Son said.

Son suggested South Korea increase non-refundable aid for Vietnam, reduce and remove technical barriers regarding the quality of contractors and originality of goods, and enhance the quality of cooperation in science and technology, healthcare, labor exchange, cultural exchange, and education and training.

In reply, South Korean Minister of Foreign Affairs Park Jin spoke highly of Vietnam's pandemic prevention and socio-economic development achievements.

He said that Vietnam is among its key partners to South Korea in the region and the South Korean Government hopes to improve its comprehensive relationship with Vietnam.

He requested to improve the environment for South Korean enterprises in Vietnam to stabilize their operations in the post-pandemic stage.

Regarding regional peace, Vietnamese Minister Son expressed Vietnam's concern for the security of the Korean peninsula and hoped that related parties would bring the conflict under control, avoid escalation and discuss possible solutions to resolve the confrontation for the peace of the region and the world.

Son said that Vietnam is willing to assist in settlement of disputes and that South Korea would support Vietnam's stance on security, safety and freedom of maritime trade and transportation in the Southeast Asian region.

Son's counterpart Park said South Korea understands the importance of regional maritime transportation and that the country always supports solutions to keep the region safe, secure and peaceful for free trade.

Park also urged related sides to resolve disputes through peaceful methods based on international laws, including The United Nations Convention on the Law of the Sea (UNCLOS) initiated in 1982.