Vietnam, RoK target US$150 billion in bilateral trade by 2030

VOV.VN - Vietnam and the Republic of Korea (RoK) agreed to continue working toward the goal of raising bilateral trade to US$150 billion by 2030 in a balanced and sustainable manner, while facilitating greater market access for each other's goods.

The consensus was reached during talks held in Hanoi on April 15 between Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son and his RoK counterpart Cho Tae-yul.

During the meeting, Deputy PM Bui Thanh Son welcomed Foreign Minister Cho Tae-yul on his first official visit to Vietnam in his new capacity, while expressing confidence that the trip will help boost the substantive development of the Comprehensive Strategic Partnership between the two countries amid growing global and regional complexities.

Minister Cho Tae-yul expressed appreciation for the warm and thoughtful reception from Deputy PM Bui Thanh Son and the Vietnamese side, affirming that Vietnam is a key partner in the RoK’s foreign policy in the region. He emphasized that the RoK will work closely with Vietnam in successfully realizing development goals through 2045, and hoped the two foreign ministries will continue to play a coordinating role in bilateral cooperation, thereby contributing to deeper and more effective relations.

Regarding political ties, both sides showed satisfaction with the robust development of the Vietnam-RoK Comprehensive Strategic Partnership across all areas. They agreed to further enhance delegation exchanges and high-level and all-level engagements, with a focus on stepping up cooperation in diplomacy, national defense, and security, as well as on the effective implementation of bilateral dialogue and cooperation mechanisms.

Both sides hailed the close coordination between their foreign ministries in recent years, particularly the regular maintenance of the annual foreign ministers’ dialogue mechanism to review the implementation of the Action Program for the Vietnam-RoK Comprehensive Strategic Partnership.

In economic cooperation, the two sides reaffirmed their commitment to soon achieving the goal of raising bilateral trade turnover to US$150 billion by 2030 in a balanced and sustainable manner, and facilitating market access for each other’s goods.

Deputy PM Bui Thanh Son affirmed that Vietnam always encourages Korean businesses to invest in new projects and expand existing operations in Vietnam, with priority given to infrastructure development, high-tech electronics manufacturing, semiconductors, renewable energy, and smart cities.

Minister Cho Tae-yul thanked the Vietnamese Government for consistently supporting Korean enterprises and creating favorable conditions for their long-term investment in Vietnam.

He stressed that economic cooperation is a key pillar of bilateral relations, and the RoK views Vietnam’s economic development success as its own. Korean businesses also hope to contribute more to Vietnam’s economic growth. Regarding specific sectors, both sides consented to further augment cooperation in science and technology, labor, health, culture, education, and people-to-people exchange.

Deputy PM Bui Thanh Son proposed that the RoK increase quotas and expand the range of occupations for Vietnamese workers, bolster cooperation in digital transformation, research and development, and human resources training, and continue simplifying visa procedures for Vietnamese citizens. Minister Cho Tae-yul said he will work with relevant RoK ministries and agencies to advance these proposals.

At the multilateral level, the two sides concurred to maintain close coordination and mutual support in dealing with international and regional issues of shared interest, including at the United Nations, ASEAN-RoK, and Mekong-RoK cooperation mechanisms.

The Vietnamese diplomat thanked the RoK Government and Ministry of Foreign Affairs for supporting Vietnam’s hosting of the Summit of the Partnering for Green Growth and the Global Goals 2030 (P4G) Forum, and for cooperating in the successful organization of the APEC High-Level Forum in 2025 in the RoK and in 2027 in Vietnam.

Minister Cho Tae-yul is making an official visit to Vietnam in conjunction with his participation in the fourth P4G Summit, held from April 15 to 17, 2025.

 

Mời quý độc giả theo dõi VOV.VN trên
Viết bình luận

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Related

Vietnam, RoK step up trade ties to aid businesses
Vietnam, RoK step up trade ties to aid businesses

Vietnam and the Republic of Korea (RoK) have agreed to boost cooperation in trade, industry and energy to support businesses amid global economic uncertainties.

Vietnam, RoK step up trade ties to aid businesses

Vietnam, RoK step up trade ties to aid businesses

Vietnam and the Republic of Korea (RoK) have agreed to boost cooperation in trade, industry and energy to support businesses amid global economic uncertainties.