Vietnam’s “Industry and Trade Electronic News” reported on December 11 that at the 10th meeting of the Vietnam-Korea Energy, Industry and Trade Cooperation Mixed Committee, the two sides agreed to strive to achieve bilateral cooperation in 2023. The trade volume reached the target of US$100 billion.
At this meeting, the Minister of Industry and Trade of Vietnam and the Minister of Trade, Industry and Energy of South Korea discussed how to eliminate difficulties and ensure uninterrupted maintenance amid the increasingly complex background of the COVID-19 epidemic. And to further promote cooperation and exchanges between enterprises of the two countries in trade, industry, and energy, the two sides reached a consensus and signed an “Action Plan” to achieve the goal of achieving a bilateral trade volume of US$100 billion by 2023.
This action plan is of great significance. It formulates detailed activities and specific implementation routes for Vietnam and South Korea in the fields of industry, trade, and energy cooperation in the next few years. It mainly includes four areas: There are three aspects: first, to promote the attraction of Korean enterprises to invest in Vietnam; second, to support Korean enterprises in Vietnam to continue to maintain and increase exports to South Korea; third, to support and enhance the competitiveness of Vietnamese enterprises, and to facilitate Vietnamese enterprises to export textiles and footwear to South Korea. , wood products, agricultural and aquatic products, processed food and other advantageous commodities to create favorable conditions; the fourth is to strengthen South Korea’s technology transfer and technical support to enhance the competitiveness of Vietnam’s automobile, textile, chemical, machinery manufacturing and parts industries, thereby promoting Exports from South Korea and other countries.
