Vietnam and RoK upgrade ties to comprehensive strategic partnership

Addressing a joint press briefing after the talks, Phuc described the talks as successful and both sides decided to upgrade their relationship to look to a brighter future.

“That is the joy I want to share with you today,” said the Vietnamese president. “In that optimistic spirit, we discussed and agreed on the vision, major directions and measures to promote bilateral cooperation in the coming time.”

To realise their comprehensive strategic partnership, Phuc suggested the two sides should regularly maintain reciprocal visit exchanges to share experiences and seek cooperation measures, while coordinating closely at multilateral forums.

With regard to bilateral economic, trade and investment cooperation, he said the two sides reaffirmed their resolve to raise two-way trade turnover to US$100 billion by 2023 and US$150 billion by 2030 in a balanced direction.

“Vietnam encourages RoK businesses to further expand investment and increase technology transfer in the country, focusing on fields such as electronics, infrastructure development, construction of intensive technology complexes, green industrial parks, and smart cities,” he said.

The President took the occasion to thank the RoK for providing aid and preferential credits to bring about development achievements in regions, including far-flung areas.

According to Phuc, the two sides also agreed to ramp up labour cooperation, by expanding new forms of labour cooperation, and continue to support their citizens to work in each other’s markets safely, legally and conveniently.

The President noted Vietnam agreed to promote the expansion of cultural, education and tourism exchanges on the fact that there are currently about 250,000 Vietnamese in the RoK and 200,000 Koreans in Vietnam, so as to enhance mutual understanding and trust among all social strata. Meanwhile, the Korean side agreed to support the establishment of the Vietnamese Cultural Center in the RoK, as well as helping Vietnam to develop the cultural industry.

The two sides consented to further strengthen close coordination at regional and international forums. They affirmed the importance of ensuring security, safety and freedom of navigation and overflight in the East Sea in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982)they also underlined the importance of promoting dialogue, cooperation and realizing the goal of denuclearization on the Korean Peninsula in accordance with the resolutions of the United Nations Security Council, contributing to peace, stability and development in the region and the wider world.

Speaking at the press conference, President Yoon noted over the past 30 years, the two countries have built a close partnership, with trade and investment cooperation growing tremendously and people-to-people diplomacy strengthened.

“The upgrade of our relationship to a level of comprehensive strategic partnership will usher in a new era in the RoK -Vietnam relations,” said Yoon, again emphasizing this is a ‘new starting point’ in bilateral relations.

He suggested the two sides optimize trade - investment cooperation opportunities by supporting their businesses to further promote cooperation in this field. He expressed delight at the signing of many cooperation documents during Phuc’s visit, and said the RoK wishes to cooperate with Vietnam in the field of advanced technology through stabilizing supply chains.

Yoon also announced the RoK’s decision to support the construction of a center for disease prevention and control in Vietnam.

The President revealed Vietnam is a key cooperation partner in the RoK’s Indo-Pacific Strategy and its cooperation initiative with ASEAN, and affirmed that the RoK would continue to coordinate with Vietnam in promoting cooperation within the RoK – ASEAN and RoK-Mekong cooperation frameworks.