At a reception for Korean Trade Minister, Bark Taeho, in Hanoi on August 6, PM Dung spoke highly of the results of talks between Mr Taeho and Minister of Industry and Trade Nguyen Huy Hoang, especially the announcement from both sides to begin Free Trade Agreement (FTA) negotiations, which represents an important landmark in strengthening their strategic partnership.
Mr Dung said Vietnam has always attached great importance to cooperating with the ROK in various fields for mutual benefit and development, adding that FTA negotiations should be finalized soon and will contribute to promoting bilateral economic, trade and investment cooperation.
He also asked the RoK Trade Ministry to create favourable conditions for Vietnamese goods, particularly farm produce, to penetrate the Korean market and for Korean retailers to introduce Vietnamese goods at Korean retail outlets.
Trade Minister Taeho praised the Vietnamese Government’s achievements in controlling inflation, stabilizing the macroeconomy, restructuring the financial and banking system, and streamlining administrative procedures.
Mr Taeho also told PM Dung that during his visit, both sides agreed on measures to increase two-way trade, ensure a balance of trade and boost exports of Vietnamese fresh fruit and food to the RoK.
The Korean Trade Minister said he hopes the FTA negotiations will contribute to reaching the US$25 billion target for two-way trade by 2015.
The representatives of Hanoi and Italy’s Lazio region signed an agreement on May 24, aiming to promote cooperation between the two sides in economics and among their small and medium-sized enterprises.
Domestic firms have been urged to boost exports to China to offset Vietnam's huge trade deficit with the neighbouring country.