Vietnam, RoK to raise bilateral trade to 100 billion USD
National Assembly Chairwoman Nguyen Thi Kim Ngan on Thursday witnessed the signing of an MoU on raising bilateral trade to 100 billion USD by 2020 between the two countries' Ministries of Trade.
Under the document, the Republic of Korea will help Vietnamese enterprises to improve the quality of human resources and competitiveness in the automobile and spare parts manufacturing industries, as well as the garment, textile, footwear and electronics industries. The Ministry of Industry and Trade of Vietnam and the Ministry of Trade, Industry and Energy of the Republic of Korea will set up a working team to facilitate the trade of agricultural products.
After the signing ceremony, a mid-term meeting of the Vietnam-RoK Joint Committee for Cooperation in Nuclear Power, Industry, Energy and Trade was held. The two Ministries agreed on the need to fine-tune policies and their implementation, improve the business environment, and strengthen cooperation between the governments and enterprises in order to boost bilateral trade.