Cooperation between Viet Nam and RoK thrives in all spheres

DNVN - An online workshop hosted by the Vietnam Academy of Social Sciences (VASS) in Hanoi on August 3 revealed that cooperation between Vietnam and the Republic of Korea (RoK) has been thriving in all spheres 30 years after the establishment of bilateral diplomatic ties.

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Director of the Institute for Southeast Asian Studies at the VASS, Associate Prof. Dr. Nguyen Huy Hoang, stated that the two nations have a strategic partnership in place and are working to develop a comprehensive strategic partnership.

Illustrative image.

Illustrative image.

He added that the RoK is one of the biggest investors in Vietnam and that two-way trade revenue increased 160 times, from 500 million USD in 1992 to 80 billion USD last year.

He suggested that the two nations increase their security cooperation with other nations within and outside the region in order to promote economic growth, stability, and peace in the region.

Dr. Choi In-a, from the Korea Institute for International Economic Policy (KIEP), stated that Vietnam and the Republic of Korea (RoK) should address the trade imbalance by enhancing Vietnam's capacity to supply intermediate goods and by cooperating to construct a stable supply chain network in the Indo-Pacific.

Participants also discussed multilateral economic platforms such as the Regional Comprehensive Economic Partnership (RCEP) and the Indo-Pacific Economic Framework for Prosperity (IPEF).


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