Cooperate on technology transfer and mineral exploitation

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Vietnamese Industry and Trade Minister Nguyên Hông Diên (right) and South Korean Trade, Industry and Energy Minister Lee Chang-yang on August 2 in Seoul.

Photo: VNA/CVN

The Republic of Korea wants to cooperate with Vietnam in the exploitation and processing of minerals, Minister of Commerce, Industry and Energy Lee Chang-yang said during his meeting with the Vietnamese Minister of Industry and Commerce, Nguyên Hông Diên.

The two ministers agreed that cooperation between the two sides should be based on the basis of mutual benefits towards a balance in bilateral trade turnover as soon as possible.

They agreed that bilateral cooperation should not only strengthen in trade and industry but also extend to human resource training and technology transfer.

Target of 100 billion USD

Minister Nguyên Hông Diên reviewed the execution of the tasks agreed upon by the two parties during the 11e meeting of the Vietnam-Republic of Korea Joint Committee on Energy, Industrial and Trade Cooperation, stressing the determination to achieve the target of 100 billion USD in trade by the end of 2023 set by their leaders.

He suggested that relevant South Korean ministries and bodies create favorable conditions for Vietnamese products, especially agricultural products, to enter the South Korean market and help Vietnam carry out trade promotion activities to gain access to major South Korean distribution channels such as Lotte Mart, E-Mart and Home Plus.

The official also proposed that the ROK continue to support the Vietnamese Ministry of Industry and Commerce to organize human resources training programs in the fields of commerce, trade remedy, distribution in the future. and logistics.

He said the Vietnamese government, ministries and agencies always support foreign companies, including those from the ROK, to invest in Vietnam.

The prime minister and members of the Vietnamese government have met with South Korean companies in the country twice in the past year, he said, adding that 25 out of 29 proposals from South Korean companies had been resolved.

The two ministers agreed to co-chair the 12e meeting of the Vietnam-Republic of Korea Joint Committee on Energy, Industrial and Trade Cooperation and the 6e meeting of the Joint Committee for the Implementation of the Bilateral Free Trade Agreement at the end of this year in Vietnam, to promote the achievement of the target of 100 billion USD in trade by 2023.



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