Image: Reuters Berita 24 English -According to the Vietnamese government, Vietnam and South Korea want to increase their bilateral trade fro...
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| Image: Reuters |
Berita 24 English -According to the Vietnamese government, Vietnam and South Korea want to increase their bilateral trade from $78 billion last year to $100 billion the following year and $150 billion by 2030.
The South Korean Prime Minister Han Duck-soo and his Vietnamese colleague Pham Minh Chinh agreed on the trade goals during a phone chat late on Tuesday, according to a government statement.
The main source of foreign direct investment for Vietnam comes from South Korea, a significant economic partner. The largest single foreign investor in the nation of Southeast Asia is Samsung Electronics.
According to the statement, Han and Chinh also decided to look for ways to reduce the gap in their bilateral trade.
Vietnamese customs figures show that Vietnam had a $34 billion trade deficit with South Korea in the previous year. The primary South Korean imports into Vietnam include electronics, machinery, metals, plastics, fabrics, and fuels.
Han and Chinh also discussed the value of preserving peace, stability, and maritime freedom in the South China Sea during their conversation, according to the statement.
