Leaders of S. Korea, Vietnam agree to boost bilateral trade, cooperation

SEOUL, July 8 (Yonhap) -- South Korean President Moon Jae-in and Vietnamese Prime Minister Nguyen Xuan Phuc agreed to further expand the countries' bilateral trade and economic relations while also developing their strategic partnership, Seoul's presidential office said Saturday.

"While noting the countries' bilateral trade and investment continued to expand with the trade volume between the two countries coming to US$45 billion and our accumulative investment in Vietnam breaching $50 billion last year, the two heads of state agreed to continue working together for their mutually beneficial trade and investment by achieving a goal of $100 billion in trade by 2020," the presidential office, Cheong Wa Dae, said in a press release.

The Moon-Phuc meeting was held Friday (German time) on the sidelines of the Group of 20 summit in Hamburg.

Moon expressed hope for increased opportunities for South Korean firms to take part in Vietnam's infrastructure projects, especially in the energy and construction sectors, while proposing joint efforts to develop Vietnam's industrial materials and parts industry.

The Vietnamese leader expressed hope for increased cooperation in the infrastructure sector, noting increased exchanges between the countries' small and medium-sized firms will be in line with his country's policy to build a modernized, industrial nation, according to Cheong Wa Dae.

Phuc also expressed hope to meet Moon again at the upcoming Asia-Pacific Economic Cooperation forum to be held in Vietnam in November, it added.

bdk@yna.co.kr
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