JavaScript is off. Please enable to view full site.

Vietnam, South Korea aim to boost trade to $100 bln next year

Vietnam, South Korea aim to boost trade to $100 bln next year

Wednesday, July 06, 2022, 12:42 GMT+7
Vietnam, South Korea aim to boost trade to $100 bln next year
The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. Photo: Reuters

Vietnam and South Korea aim to raise the value of bilateral trade between the countries to $100 billion next year and to $150 billion by 2030, up from $78 billion last year, the Vietnamese government said.

The trade targets were agreed during a telephone call between South Korean Prime Minister Han Duck-soo and his Vietnamese counterpart Pham Minh Chinh late on Tuesday, a government statement said.

South Korea is an important economic partner for Vietnam and the largest source of foreign direct investment. Samsung Electronics is the biggest single foreign investor in the Southeast Asian country.

Han and Chinh also agreed to seek ways to narrow the gap in bilateral trade, the statement said.

Vietnam incurred a trade deficit of $34 billion with South Korea last year, according to Vietnamese customs data. Vietnam's main imports from South Korea include electronics, machinery, metals, plastics, fabrics and fuels.

During the call, Han and Chinh also shared views on the importance of maintaining peace and stability and maritime safety and freedom in the East Vietnam Sea, the statement said.

Reuters - Tuoi Tre News


Read more




‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news

Greenland treads softly on tourism as icebergs melt

As tourists flock to Greenland to take in its breathtaking icebergs and natural beauty, authorities are mulling ways to control crowds to protect the fragile environment, already threatened by global warming