VN, South Korea strengthen economic cooperation

Prime Minister Phạm Minh Chính holds talks with South Korean President Yoon Suk Yeol on Thursday, as part of the 44th and 45th ASEAN Summits held in Vientiane, Laos. VNA/VNS Photo Dương Giang

HÀ NỘI - Prime Minister Phạm Minh Chính urged South Korea to continue opening its market to Vietnamese goods, particularly agricultural products and to provide concessional loans to Việt Nam for the implementation of large-scale, symbolic infrastructure projects such as railways and expressways.

He made his remarks during talks with South Korean President Yoon Suk Yeol on Thursday, as part of the 44th and 45th ASEAN Summits held in Vientiane, Laos.

PM Chính extended his heartfelt thanks to the South Korean Government and people for providing Việt Nam with US$2 million in aid to help recover from the impact of Typhoon Yagi, calling it a symbol of friendship, solidarity and a strong bond between the two nations.

Looking ahead, the two leaders expressed their determination to further deepen the Việt Nam-South Korea Comprehensive Strategic Partnership. They agreed to enhance high-level exchanges and contacts, boost defence and security cooperation and remove trade barriers, facilitating the entry of goods into each other’s markets.

They are also committed to expanding cooperation in new, promising areas such as science and technology, innovation, and research and development.

PM Chính reaffirmed Việt Nam’s commitment to creating favourable conditions for South Korean investors to do long-term business in the country. He also welcomed South Korea's initiative to train young talent in ASEAN countries and expressed hope that they would actively support Việt Nam in this endeavour.

South Korean President Yoon reaffirmed South Korea's strong commitment to its relationship with Việt Nam and expressed his desire to deepen cooperation across all areas.

He urged Việt Nam to facilitate South Korean investors' participation in infrastructure, urban development, energy and liquefied natural gas (LNG) projects in the country. He also reaffirmed South Korea’s commitment to ensuring favourable conditions for Vietnamese goods to access its market.

The South Korean President praised Việt Nam’s role as the coordinator of ASEAN-South Korea relations in the period of 2021-2024 and acknowledged Việt Nam’s active support in upgrading ASEAN-South Korea relations to a Comprehensive Strategic Partnership.

The two leaders agreed to continue close coordination at multilateral forums and to contribute responsibly and actively to addressing regional and global issues. South Korean President Yoon emphasised South Korea's support for Việt Nam’s and ASEAN’s stance on the East Sea (internationally known as the South China Sea), particularly the importance of sticking to international law, resolving disputes through peaceful means in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

PM Chính reiterated Việt Nam's consistent support for the peace process and denuclearisation of the Korean Peninsula, expressing readiness to act as a bridge to promote dialogue between the parties involved, contributing to peace, stability and cooperation in the region.

He also extended an invitation to South Korean Prime Minister Han Duck Soo to pay an official visit to Việt Nam and attend the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit in 2025.