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Prime Minister Pham Minh Chinh meets South Korean President

VGP - Prime Minister Pham Minh Chinh had a meeting with South Korea's President Yoon Suk Yeol in Ha Noi on June 23.

June 23, 2023 6:15 PM GMT+7
Prime Minister Pham Minh Chinh meets South Korean President - Ảnh 1.

Prime Minister Pham Minh Chinh (right) and South Korean President Yoon Suk Yeol in Ha Noi, June 23, 2023. Photo: VGP

The Prime Minister told his guest Viet Nam's consistent value and desire to further advance the new framework of the bilateral relations between the two countries with a broader and higher vision and goal.

In response, the Korean President congratulated Viet Nam on its development achievements so far and highlighted that the South Korean Government highly values the relationship with Viet Nam and considers Viet Nam a key cooperative partner in the region.

Expressing their joy and satisfaction with substantive progress made in the bilateral relations, particularly its elevation to a comprehensive strategic partnership in December last year, the two sides exchanged views on specific measures to promote bilateral ties in politics, diplomacy, defence, security, economy, trade, investment, development cooperation, labor, science and technology, people-to-people exchange, among other areas.

Given slow global economic recovery, the two sides agreed to make joint efforts to enhance the effectiveness of the nations’ mutually beneficial cooperation and complement each other's strength, with a focus on making significant qualitative strides in economic ties.

Prime Minister Pham proposed that both countries effectively implement the Viet Nam-South Korea Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP), thereby achieving the goal of raising their bilateral trade turnover to US$100 billion in the near future and US$150 billion by 2030 in a balanced and sustainable manner.

He also suggested that South Korea open its market further for Viet Nam's key products such as agro-fishery goods and seasonal fruits; help Vietnamese enterprises join more deeply in the global supply chains of Korean businesses; and encourage Korean companies to expand their investment scale in Viet Nam, particularly in priority areas such as infrastructure development, high-tech electronic manufacturing, semiconductors, renewable energy, and smart cities.

Pham welcomed Korean businesses to invest in key national projects and BOT (Build-Operate-Transfer) projects involving the building of thermal power plants and liquefied natural gas (LNG) facilities in Viet Nam.

He proposed South Korea transfer technology for Viet Nam, create more favourable conditions for Vietnamese enterprises to invest in South Korea, and consider Viet Nam a strategic destination for establishing Korean research and development (R&D) centers.

The Prime Minister underscored his commitment to addressing difficulties and obstacles facing Korean investors in Viet Nam. He also suggested expanding exchanges between the Vietnamese and Korean youth and strengthening the bilateral people-to-people and locality-to-locality collaboration.

For his part, President Yoon stated that the Korean Government will continue to encourage and facilitate local enterprises to invest in Viet Nam. He proposed increasing join works in the defence industry.

He hoped the Vietnamese Government will continue supporting and resolving difficulties for Korean investors, particularly concerning the sectors of finance-banking, infrastructure, and smart city building. Yoon also looked for Viet Nam’s further assistance for Korean citizens as well as for the expansion of Korean educational institutions in Viet Nam.

South Korea will provide favourable conditions for Vietnamese students to study advanced technology and modern science and technology the country, he affirmed.

Given rapidly changing, complex, and unpredictable global and regional situations, both sides agree to make joint efforts to enhance the effectiveness of collaboration and mutually support each other regarding international and regional issues of mutual concern.

They said they will continue to cooperate closely within the ASEAN-South Korea and Mekong-South Korea cooperation frameworks, and coordinate for Viet Nam to fulfill its role as the coordinating country for ASEAN-South Korea relations for the 2021-2024 term.

They shared a common vision of ensuring security, safety, freedom of navigation, and aviation in the East Sea, maintaining a peaceful and stable environment and legal order, and resolving disputes at sea through peaceful means, ensuring the legitimate rights and interests of countries in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS)./. VNA