PM Dung attends summit marking ASEAN-RoK relations

Photo: VGP

ASEAN and the RoK established sectoral dialogue relations in 1989 and elevated that ties to full dialogue partner status in 1991, then set up comprehensive partnership in 2004 and strategic regional and international issues of mutual concern.

The Vietnamese delegation will make positive and responsible contributions to promoting effective and practivel relations between ASEAN and the RoK.

For Viet Nam-RoK relationship, a strategic partnership has been established. Regular delegation exchanges and high-level meetings have been maintained and security-defence cooperation has seen new developments.

Bilateral economic ties have been deepened. The RoK has become one of the most important partners of Viet Nam in investment, trade and official development assistance (ODA). The RoK is the biggest investor of Viet Nam with 4,063 effective projects and $36.7 billion registered capital invested in 18 among 21 sectors in Viet Nam, mainly in the processing and manufacturing industry, real estate, construction, recreation arts and logistics.

The RoK is the third biggest trade partner of Viet Nam while Viet Nam is the 9th largest export market of the RoK. The bilateral trade turnover by the end of October 2014 was US$23.6 billion. The two sides aim to raise the two-way trade value to US$70 billion by 2020.

The RoK is the 2nd biggest ODA provider to Viet Nam (after Japan) while Viet Nam is the biggest ODA receiver from the RoK.

For recent years, notable developments have also seen in tourism, labor cooperation and people-to-people exchange.

Beside attending the summit to enhance the ASEAN-RoK dialogue relations, the working visit of PM Dung to the RoK is expected to boost and deepen the Viet Nam-RoK strategic partnership while consolidating trust and sound relations between the two countries’ high-level leaders.