Vietnam, RoK to increase sharing of law-making experience

VOV.VN - Vietnam and the Republic of Korea (RoK) will increase the sharing of experience in legislation to support their development and boost bilateral cooperation.

The agreement was reached during talks in Seoul on March 20 between Chung Woo-talk, deputy speaker of the National Assembly of the RoK and his Vietnamese counterpart Nguyen Duc Hai who is in Seoul for an official working visit to the RoK.   

Chung recalled that the two countries upgraded their relations to the level of a comprehensive strategic partnership, and their leaders set long- and short-term strategic goals for the development of bilateral relations in 2022.

The National Assembly of the Republic of Korea supports stronger cooperation between the two countries, and an increase in reciprocal visit exchanges between the two countries’ leaders including those of their legislative bodies, will help facilitate bilateral cooperation, especially in potential fields, and address issues relating to citizen protection and business operations, he said.

He thanked Vietnam for assisting the RoK in overcoming the urea crisis in 2022, and asked the Southeast Asian nation to support its bid to host the World Expo 2030 in Busan.

Hai for his part highlighted the positive development of the Vietnam – RoK relations over the years, noting the RoK has maintained its leading position as the largest foreign investor in Vietnam with a total accumulated investment of US$82.2 billion. The RoK now ranks second in development, tourism and labour cooperation, and third in trade cooperation with two-way turnover reaching US$88 billion last year.

Vietnam attaches great importance to and wishes to further deepen the comprehensive strategic partnership with the Republic of Korea, in the common interests of the two peoples, contributing to peace, stability and cooperation and development in the region and the wider world, said Hai.

He suggested that the two sides effectively implement the Vietnam - Korea Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP) which will strive to raise two-way trade to US$100 billion this year and US$150 billion by 2030 in a sustainable and balanced direction.

The country welcomes businesses from the RoK seeking to expand their investment in the Vietnamese market, especially in prioritised fields such as high technology, science - technology, innovation, green economy, digital economy, digital transformation, clean energy, smart city, ecological city, and green industrial park, he said.

Hai therefore expressed hope that Korean businesses would strengthen linkages and support local businesses in further engaging in their production and supply chains, thereby making Vietnam become a centre in the regional and global value chain.

He proposed that the RoK continue to effectively maintain its official development assistance (ODA) cooperation mechanism with Vietnam, initiate new models of labour cooperation, and swiftly implement the social insurance agreement between the two countries, while boosting linkages between their localities through investment, trade, and tourism promotion activities, as well as cultural festivals.

Vietnam stands ready to work alongside the RoK in order to strengthen exchanges and cooperation in addressing regional and international issues of mutual concern, Hai assured his host.

He affirmed that the Vietnamese side will work closely with the RoK to successfully fulfill its role of coordinator of the ASEAN-Korea relations for the 2021 - 2024 term.

He also voiced Vietnamese support and willingness to make active contributions to the denuclearisation process in the Korean Peninsula, as well as supporting the RoK’s bid to host the World Expo 2030 in Busan.

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