Korea, Viet Nam agree to expand bilateral trade volume

By Park Sae-jin Posted : July 1, 2024, 13:45 Updated : July 1, 2024, 14:02
Minister of Trade Industry and Energy Ahn Duk-geun speaks during an opening address of a business forum held in central Seoul on July 1 2024 AJU PRESS Kim Dong-woo
Minister of Trade, Industry and Energy Ahn Duk-geun speaks during an opening address of a business forum held in central Seoul on July 1, 2024. AJU PRESS Kim Dong-woo
SEOUL, July 01 (AJU PRESS) - Korea and Viet Nam will expand mutual exchanges in various economic sectors to reach a bilateral trade volume of more than $150 billion by 2030, the Ministry of Trade, Industry and Energy said during a business forum held in central Seoul on Monday.

Organized by the Korea Chamber of Commerce and Industry (KCCI), the forum was attended by Trade Minister Ahn Duk-geun, Vietnamese Prime Minister Pham Minh Chinh, and KCCI Chief Cho Hyun-sang. About 450 attendees, including 300 Korean businessmen and government officials and 150 Vietnamese counterparts gather for the forum. Executives from major conglomerates such as Samsung Electronics, SK, Hyundai Motor, LG, and POSCO were also present.

Highlighting the upgraded the biliteral relationship to a comprehensive strategic partnership (CSP) in December 2022, Ahn said, "Now is the time for us to prepare for the next 30 years."

"Considering the economic and industrial capacities and potential of both countries, I hope we can expand the scope of trade and investment beyond intermediate goods to include consumer goods, services, culture, and content. We should also enhance cooperation in building energy infrastructure and large-scale projects," Ahn added.

At the forum, over 22 Korean and Vietnamese companies signed memorandums of understanding (MOUs) with their counterparts and government organizations. Ahn said these partnerships will play a crucial role in attracting more investment between Korea and Viet Nam.
 
Vietnamese Prime Minister Pham Minh Chinh speaks during an opening address of a business forum held in central Seoul on July 1 2024 AJU PRESS Kim Dong-woo
Vietnamese Prime Minister Pham Minh Chinh speaks during an opening address of a business forum held in central Seoul on July 1, 2024. AJU PRESS Kim Dong-woo
Chinh is the first high-level Vietnamese official to visit Seoul since Korea and Viet Nam forged the CSP. "The relationship between the two countries over the last 30 years has been as good as it can get," he said, highlighting increased exchanges between government officials and business sectors.

He emphasized the importance of creating a harmonious ecosystem for mutual prosperity. "Korea and Viet Nam should cooperate on their respective strengths in sectors such as human resources development, smart governance, green economy, semiconductors, artificial intelligence, culture, and entertainment."

Chinh assured that Viet Nam can provide a stable business environment that prioritizes people. "The world faces various challenges such as political clashes, aging societies, inflation, and trade disruptions. We should tackle these problems by adhering to three principles: 'Listen together,' 'Share together,' and 'Act together.'"
기사 이미지 확대 보기
닫기