Vietnam and RoK Issue Joint Press Release
A joint press release has been issued on the occasion of Vietnamese Prime Minister Pham Minh Chinh’s official visit to the Republic of Korea (RoK) from June 30 to July 3, at the invitation of Korean Prime Minister Han Duck-soo.
During the visit, Prime Minister Chinh held talks with Prime Minister Han Duck-soo, where they agreed that the Vietnam-RoK relationship is currently at its strongest since the establishment of diplomatic relations in 1992. Both leaders reaffirmed their commitment to fostering cooperation across a wide range of areas within the framework of the Vietnam-RoK comprehensive strategic partnership.
Economic cooperation remains a cornerstone of the relationship. The two leaders pledged to boost bilateral trade turnover to $100 billion by 2025, coinciding with the 10th anniversary of the Vietnam-RoK Free Trade Agreement (VKFTA), and to $150 billion by 2030, aiming for a balanced and sustainable growth. To achieve this target, Vietnam and the RoK agreed to collaborate closely in implementing existing economic cooperation mechanisms such as the VKFTA, the Regional Comprehensive Economic Partnership (RCEP), and the Indo-Pacific Economic Framework (IPEF). They also highlighted the importance of signing a Mutual Recognition Agreement (MRA) for the Authorised Economic Operator (AEO) program in 2024.
Beyond trade, the two leaders emphasized the importance of fostering collaboration in science and technology, particularly in high-tech areas, research and development (R&D), and technology transfer. People-to-people exchanges are also set to receive a boost, with both leaders expressing a shared vision of facilitating exchanges in culture, education, tourism, and other areas to enhance mutual understanding and connections between the Vietnamese and Korean people.
The joint press release further underscored a commitment to close collaboration and mutual support at international and regional forums. The two Prime Ministers witnessed the exchange of nine cooperation documents signed between ministries and agencies of both countries, covering various fields such as development cooperation, trade and investment, small and medium-sized enterprises (SMEs), innovation and entrepreneurship, environment, competition and consumer protection, and education.
Both leaders expressed their satisfaction that the visit has significantly contributed to deepening the Vietnam-RoK comprehensive strategic partnership, benefiting peace, stability, and development in the region and the world.
