Vietnam and the RoK have agreed to accelerate free trade agreement (FTA) negotiations in the hopes of an early 2014 signing and US$70 billion in two-way trade by 2020.
Deputy Prime Minister Nguyen Xuan Phuc formalised the goal during January 21 talks with the Republic of Korea's (RoK) Deputy Prime Minister and Minister of Strategy and Finance Hyun Oh-Seok.
The two leaders discussed specific measures to strengthen the Vietnam-RoK relationship and expressed their delight at the rapid and effective development of friendship and cooperation since the official establishment of their strategic partnership in 2009.
They agreed to promote reciprocal delegation exchanges to deepen mutual understanding and trust; bolster strategic dialogues on diplomacy, defence, and security; and boost investment and trade links in a balanced manner.
Hyun Oh-seok said the RoK will consider facilitating Vietnamese exports to the Korean market and step up cooperation with Vietnam in advanced technology and support industries.
He noted the RoK considers Vietnam an important regional partner and a lodestone of its ODA provision policy.
The RoK will continue offering Vietnam ODA funding for green growth, infrastructure development, and human resource training.
Deputy Phuc outlined how the Vietnamese Government used the Korean Government's US$100 million preferential to improve its e-government capacity.
He also asked the Korean Government to support key projects and cooperation programmes such as a Vietnam-Korea Institute of Science and Technology (VKIST), a national counterterrorism training centre, and the third phase of a project upgrading a national drug control coordination agency.
The two sides agreed to facilitate people-to-people exchanges in the interests of both citizenries' legitimate rights.
Deputy PM Phuc applauded the two labour ministries for signing a Memorandum of Understanding on labour cooperation and suggested the RoK provide quotas easing Vietnamese guest worker access to employment in the RoK.Phuc invited his Korean interlocutor to visit Vietnam and his invitation was accepted with great pleasure.
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