Vietnam and S.Korea strive to increase bilateral trade to US$100 billion by 2020
The two-way trade reached US$65.7 billion in 2018, of which Vietnam`s exports to South Korea were US$18.2 billion and the country spent US$47.5 billion on imports.
Receiving Chairman of the South Korea -Vietnam Parliamentary Friendship Group Kim Hack-yong on June 13, Vietnam’s Prime Minister Nguyen Xuan Phuc suggested the two countries strive to attain trade turnover of US$100 billion by 2020, the government portal reported
PM Nguyen Xuan Phuc received Chairmen of RoK – Viet Nam Parliamentary Friendship Group Kim Hack Yong. Photo by Quang Hieu/VGP.
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Phuc also noted that the relationship between Vietnam and South Korea is growing strongly in many fields, with political trust and mutual understanding increasingly reinforced.
Vietnam pays great attention to the young generation of the two countries and highly values the significant roles of the two country’s parliamentary groups, Phuc said.
The PM affirmed that Vietnam always attaches great importance on promoting extensive cooperation with Korea and wants to closely coordinate with the latter in order to constantly develop and bring the strategic partnership to new heights.
He suggested both countries should strive more to develop the Vietnam- South Korea relations and hoped the Northeast Asian country would continue to support Vietnam in national defense and sports, especially football.
For his part, Kim Hack-yong expressed his gratitude to the Vietnamese government and people for creating favorable conditions for Korean businesses and citizens to work and live in Vietnam.
The Korean MP expressed his desire that both countries can jointly work to facilitate the lives of Koreans in Vietnam and vice versa.
As South Korea is slated to hold a summit to celebrate the 30th anniversary of the ASEAN-South Korea relations by the end of this year, Kim hopes to welcome PM Phuc at the event.
He also underlined the determination to work with the parliamentary group’s members to boost the bilateral ties.
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