Vietnam and South Korea for trade amounting to 100 billion dollars

Vietnam and South Korea are talking about increasing their trade turnover to 100 billion dollars next year from their current trade exchange of 70 billion.

On talking to embassy officials and executives of South Korean enterprises here, Deputy Minister of Industry and Trade Tran Quoc Khanh noted that it seems an attainable goal because turnovers of both countries are growing at a pace of two digits per year.

The chief of the South Korean trade mission, Kim Dong Bae, also deemed that perspective feasible and, following Khan, asked his Vietnamese counterpart to facilitate more the entering of goods and investments in Vietnam.

On the other hand, Wohn Jun Young, director of the Korea Trade-Investment Promotion Agency in Hanoi, announced that in the first semester of 2020 a center will be established with the objective of providing more assistance to his country's enterprises based in Vietnam.

The Republic of Korea is Vietnam's third largest trade partner, the first investor, and one of its main contributors to the Official Development Assistance.

Vietnamese Prime Minister Nguyen Xuan Phuc made an official visit to Seoul in November to strengthen the bilateral relations.



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