President Phuc affirmed Vietnam consistently values ties with the RoK in its foreign policy of independence, self-reliance, multilateralisation and diversification of relations.
He congratulated the RoK Government and people on the successful implementation of their development strategies and goals, including the Indo-Pacific strategy, the ASEAN-RoK Solidarity Initiative, the Global Pivotal State (GPS) initiative that have improved the RoK’s role and position in the world.
Expressing their delight at the rapid and effective development of bilateral friendship and cooperation over the past years, especially since the upgrade of ties to strategic cooperative partnership in 2009, both sides declared to lift their relationship to comprehensive strategic partnership to open up a new development period for bilateral ties.
They agreed to facilitate all-level visits in diverse and flexible forms, further step up cooperation in diplomacy, national defence and security, carry out existing cooperation and dialogue mechanisms, strive for specific results in national defence industry cooperation and promote coordination in the fight against crimes, especially trans-national crimes, terrorism and non-traditional security challenges.
Host and guest promised to boost trade, investment, development cooperation and technological transfer, toward achieving two-way trade of 100 billion USD next year and 150 billion USD by 2030 in a more balanced manner.
Accordingly, the RoK will actively offer all possible support to Vietnam’s exports to the country while assisting Vietnamese firms in joining the global supply chain of Korean firms. Vietnam will make it easier for Korean enterprises to invest in and expand operations in electronics, infrastructure development and building of hi-tech complexes, green industrial zones and smart urban areas.
The leaders highly valued the practicality and effectiveness of the official development assistance (ODA) capital that the RoK has provided for Vietnam in recent times, and agreed to strengthen cooperation in development assistance and increase ODA for Vietnam in the coming years, especially for basic infrastructure construction and human resources training; further expand the provision of non-refundable aid, especially for projects in the Mekong Delta, and consider reducing and eventually removing binding conditions on contractors and origin of goods in obtaining loans from the Economic Development Cooperation Fund (EDCF).