The two ministers agreed that the cooperation between the two sides should be based on the foundation of mutual benefits towards a balance inn bilateral trade turnover as soon as possible. Not only trade and industry, the bilateral collaboration should expand to human resources training and technology transfer.

Minister Dien reviewed the performance of tasks agreed by the two sides at the 11th meeting of the Korea-Vietnam Joint Committee on Energy, Industry and Trade Cooperation, emphasising the determination to realise the trade turnover target of 100 billion USD by late 2023 set by their leaders.

He suggested the relevant RoK ministries and agencies to create favourable conidtions for Vietnamese goods, especially agricultural products, to enter the Korean market as well as support Vietnam in carrying out trade promotion activities to access major Korean distribution channels such as Lotte Mart, E-Mart and Home Plus.

He also proposed the RoK continue to assist the Vietnamese Ministry of Industry and Trade in organising human resources training programmes in the fields of trade, trade defence, distribution and logistics in the future.

The official said that the Vietnamese Government, ministries and agencies always support foreign businesses, including those from the RoK, to invest in Vietnam. The Prime Minister and members of the Government have met with Korean businesses in the country twice in the past year, he said, adding that 25 out of 29 proposals by Korean enterprises have been resolved.

The two ministers agreed to co-chair the 12th meeting of the Korea-Vietnam Joint Committee on Energy, Industry and Trade Cooperation and the 6th Joint Committee for the Implementation of the Korea- Vietnam Free Trade Agreement at the end of this year in Vietnam, to foster the fulfillment of the trade turnover target of 100 billion USD by late 2023.