The Vietnam-Republic of Korea (RoK) Inter-Governmental Committee convened its 14th meeting in Seoul on July 14 to seek ways to foster bilateral cooperation in the time ahead.

Vietnamese Deputy Minister of Planning and Investment Nguyen Chi Dung and Deputy Minister for Economic Affairs under the RoK Ministry of Foreign Affairs Lee Tae-ho co-chaired the meeting.

The two sides informed each other of their respective economic development situations, reviewed the results of the past year since the 13th meeting and exchanged views on existing difficulties.

They also reviewed the two countries’ cooperation in the fields of trade, investment, industry, labour, and consular affairs.

The Vietnam-RoK comprehensive cooperation has produced substantial results and is at an all-time high.

The RoK is now Vietnam’s leading partner in terms of foreign investment with total registered capital of around 40 billion USD. Trade reaches nearly 30 billion USD each year.

The country’s official development assistance provisions for Vietnam range from 300-400 million USD annually and there are approximately 70,000 Vietnamese nationals working in the RoK.

Vietnam and the RoK are also important partners, positively contributing to regional and international forums./.

VNF/VNA