Vietnam – RoK expects 100US$ trade turnover

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PM Phuc delivers a speech at the ASEAN-the Republic of Korea (RoK) CEO Summit. — VNA/VNS Photo Thong Nhat

Addressing the summit, PM Nguyen Xuan Phuc highly expressed his hope that enterprises will co-operate with governments to promote the application of science-technology achievements to create breakthroughs in development, especially in the context of the Fourth Industrial Revolution

He believed that the “New Southern Policy” initiated by Korean President Moon Jae-in would contribute to elevating the relations between ASEAN and the RoK to a new high as the RoK has pledged to stand shoulder by shoulder with ASEAN to develop the ASEAN Community 2025 towards the common goal of peace and prosperity in East Asia.

The policy is also expected to help increase the two-way trade from US$160 billion in 2018 to US$200 billion in 2020, he said, adding Vietnam and the RoK are striving towards US$100 billion in trade value next year.

The Vietnamese Government leader said he is looking forwards to seeing more investments from both sides in environmentally-friendly technologies, climate change response, mitigation of natural disasters, disease prevention and control, and water management, among others, to ensure that future generations will have better lives.

As the 2020 ASEAN Chair, Vietnam, together with other ASEAN members, welcomes Korean businesses who follow the ‘New Southern Policy’, with a view to enjoying thriving cooperation with ASEAN – a community of peace, friendliness, openness and dynamic, he underlined.

Vietnam's effort in business environment improvement has been recognized by international organizations, and the nation will continue its efforts to facilitate business operation of all enterprises in the country, he added.

The ASEAN – RoK CEO Summit drew the participation of more than 500 business leaders in the RoK and ASEAN, who met to find ways to strengthen cooperation in the future, as well as discussing ASEAN’s roles in the context of changing global trade environment.

Earlier, PM Phuc visited a Vietnamese booth at the ASEAN – RoK Business Expo themed “Invest ASEAN 2019”.